Stock Market News: THIS company shares gain after it receives Care ESG rating upgrade, check details here

Godavari Power & Ispat Limited (GPIL) is one of the leading companies in India's secondary steel manufacturing sector.

Shares of Godawari Power and Ispat Ltd, an iron and steel products manufacturer, trade in green even as stock markets declined, as the company has informed exchanges that Care ESG Ratings Limited has upgraded the company’s Environmental, Social and Governance (ESG) score and rating. Under the new assessment, the company has been rated CareEdge -ESG 1, with an ESG score of 76.6. This rating is based on the Issuer-Pays business model. Previously, the company had an ESG score of 51.0 and a rating of CareEdge -ESG 3, which has now been upgraded. This upgrade reflects strong improvements in the company’s environmental, social responsibility, and governance practices.

The stock started the trading session in red at Rs 255.85 against the previous close of Rs 256.30 on the BSE. It later touched the high of Rs 267. Last seen, the scrip was trading at Rs 261.45 with a gain of 2.01 per cent and the market cap of the company stood at Rs 17,511.80 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.

Stock market benchmark indices Sensex and Nifty declined in early trade on Tuesday as persistent foreign fund outflows and a muted trend in global equities dented investors’ sentiment.

The 30-share BSE Sensex dropped 209.32 points to 84,486.22 in early trade. The 50-share NSE Nifty edged lower by 63.25 points to 25,878.85.