Share Market News: THIS company gets NCLT approval for merger of subsidiary, shares trade in green | Details Here

The company stated that its focus remains on sustainable development. Furthermore, it is continuously striving to align its processes with emerging global standards to ensure responsible and robust growth in the future.

Godawari Power and Ispat Ltd, an iron and steel products manufacturer, today informed in its latest exchange filing that NCLT has approved the merger of Godawari Energy Limited (Transferor Company) with Godawari Power and Ispat Ltd (Transferee Company). Godawari Energy Limited is a wholly owned subsidiary of Godawari Power and Ispat Ltd, which is now to be merged. The company said in its filing today that the National Company Law Tribunal (NCLT), Cuttack Bench, has approved this amalgamation scheme on March 10, 2026.

Meanwhile, the company’s stock opened in red at Rs 252.10 against the previous close of Rs 253.95 on the BSE. However, it rebounded amid high trading volume and touched the intraday high of Rs 268. Last seen, the counter was trading at Rs 263.70 with a gain of 3.84 per cent. The market cap of the company stood at Rs 17,655.07 crore.

Godavari Power & Ispat Limited (GPIL) is one of the leading companies in India’s secondary steel manufacturing sector. According to information on the company’s website, it has built its reputation on strength, innovation, and sustainable growth.

From iron ore mining to high-quality steel production, GPIL’s entire vertically integrated operations demonstrate its efficiency. The company stated that its focus remains on sustainable development. Furthermore, it is continuously striving to align its processes with emerging global standards to ensure responsible and robust growth in the future.

In a recent filing, the company stated that it received consent to operate at increased capacity from the Chhattisgarh Environment Protection Board on February 28. This includes increasing the capacity of the sponge iron division at its Silatra Industrial Area, Raipur, from 594,000 tonnes per annum to 650,000 tonnes per annum, and the HB wire division from 100,000 tonnes per annum to 115,000 tonnes per annum.

The company said that the special thing is that to start working at this increased capacity, the company does not need to make any additional investment or modification and both the units can be operated at the new capacity with immediate effect.