Godawari Power Share Price
Metal companies Godawari Power and Steel have announced share buyback. The decision was taken in the board of directors meeting on June 15. The board has decided to buy of the total paid-up equity share.
The face value of each share is Rs 5. The stock closed at Rs 1,078 this week. (Gadawari Power Ltd. except) The board of directors of Godawari Power and Stell has fixed the repurchase price at Rs 1400. Last week, the stock closed at Rs 1,078.
The repurchase is at a 30 per cent premium. The company is buying back a total of Rs 301 crore. The board has fixed June 28 as the record date for the repurchase. The buyback will be executed as per the officer.
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The stock was trading 1.94% higher at Rs 1,110 on Wednesday (June 19, 2024). Talking about the share holding pattern before the buyback announcement, as of June 7, 2024. Godawari Power had 63.26 percent foreign portfolio investor and 22.15 percent public stake. Godawari Power and Steel operates across the steel value chain. It also mines iron ore, producing iron pellets and steel products.
It is a big name in the Indian Steel Industry. Talking about the performance of the stock Godawari Power Shares are trading at Rs 1,078. On June 14, the stock hit a new all-time high of Rs 1,100 in intraday. The stock has given a return of 10 percent in one month, 55 percent in three months, 40 percent so far this year, 57 percent in six months and 145 percent in one year.
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