Godawari Power surges 13% on environment clearance for capacity expansion

The company said the capex required for the above expansion will be invested out of internal accruals of the company

Shares of Godawari Power and Ispat rallied 13 per cent to Rs 633, also its 52-week high, on the BSE on Monday after the company got approval for ‘consent to operate' the enhanced capacity of iron ore pellet plant and consent to set up manufacturing facilities in other divisions.

At 12:24 pm, the stock was trading 9 per cent higher at Rs 610, as compared to 1.6 per cent decline in the S&P BSE Sensex. The trading volumes on the counter more-than-doubled with a combined around 380,000 equity shares changing hands on the NSE and BSE, so far.