Godawari Power & Ispat was locked at 5% upper circuit at Rs 520.10 at 12:48 IST on BSE after the company reported consolidated net profit of Rs 74.40 crore in Q3 December 2017, compared with net loss of Rs 9.21 crore in Q3 December 2016.
The result was announced on Saturday, 20 January 2018.Meanwhile, the S&P BSE Sensex was up 138.04 points or 0.39% at 35,649.62. The S&P BSE Small-Cap index advanced 0.53%, outperforming the Sensex.
On the BSE, 32,000 shares were traded on the counter so far as against average daily volumes of 1.16 lakh shares in the past one quarter. The stock had opened with an upward gap and remained locked at 5% level so far during the day. The stock had hit a record high of Rs 560 on 18 January 2018 and a 52-week low of Rs 83.50 on 19 January 2017.
The stock had outperformed the market over the past one month till 19 January 2018, gaining 79.02% compared with the Sensex's 4.95% rise. The stock had also outperformed the market over the past one quarter, advancing 263.16% as against the Sensex's 9.64% rise. The scrip had also outperformed the market over the past one year, surging 470.02% as against the Sensex's 30.04% rise.
The small-cap company has equity capital of Rs 35.24 crore. Face value per share is Rs 10.
Godawari Power & Ispat's net sales rose 57.6% to Rs 672.08 crore in Q3 December 2017 over Q3 December 2016.
Godawari Power & Ispat is an end-to-end manufacturer of mild steel wires. In the process, the company manufactures sponge iron, billets, ferro alloys, captive power, wires rods (through subsidiary company), steel wires, oxygen gas, fly ash brick and iron ore pellets.
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