Shares of steel-maker Godawari Power and Ispat rose as much as 13 per cent to hit fresh 52-week high of Rs 633 on the BSE in an otherwise weak market session. The Raipur-based company informed exchanges that it has got environmental clearance from Chhattisgarh Environment Conservation Board to enhance production with immediate effect.
"We would like to inform you that Chhattisgarh Environment Conservation Board, Raipur has accorded its approval for 'Consent to Operate' enhanced capacity of Iron Ore Pellet Plant from 21,00,000 to 24,00,000 Tons Per Annum' with immediate effect," Godawari Power said in a stock exchange filing.
"The Chhattisgarh Environment Conservation Board, Raipur has also accorded its 'Permission to Establish' the proposed expansion and modernization of existing manufacturing facilities along with integration of existing environmental clearances at exiting plant location," the company added.
Godawari Power shares have so far this year outperformed the Sensex by rallying 33 per cent compared with a jump of 5 per cent in the Sensex.