Steel Stock Gains 5.14% On Getting NCLT Nod For Key Merger; Do You Own?

After receiving clearance from the National Company Law Tribunal (NCLT), Godawari Power and Ispat Limited (GPIL) announced on Monday that the Scheme of Amalgamation of its wholly owned subsidiary, Godawari Energy Limited (GEL), with the company had taken effect.

As of 24 March 2026 (2:40 PM IST), Godawari Power and Ispat Limited (GPIL) shares were trading at Rs 264.10 on the NSE. Following the above announcement, the stock has shown strong upward momentum today, gaining 4.86% from its previous close of Rs 251.85. The stock touched an intraday high of Rs 264.80 in the session, which marked a surge of 5.14% from the previous close. The stock has moved between a low of Rs 251.45 and a high of Rs 264.80 during today's session.

The NCLT Cuttack Bench approved the scheme in an order dated March 12, 2026, according to the company's regulatory filing. On March 23, 2026, a certified copy of the order was submitted to the Registrar of Companies (RoC). Godawari Energy Limited is now merged with Godawari Power and Ispat Limited, marking the official implementation of the plan with this filing. The merger has been scheduled on April 1, 2025, however the scheme's effective date is March 23, 2026.

Additionally, GPIL notified the exchanges that the NCLT had issued a corrigendum order on March 11, 2026, to address minor typographical and non-material corrections in the original tribunal ruling of March 10, 2026. Now that the transaction is complete, GEL's incorporation into GPIL is anticipated to streamline the corporate structure of the flagship steel and power firm of the Hira Group.

According to Marketsmojo, the stock saw a positive return of 0.98% during the previous week, while the Sensex saw a 3.72% drop. The stock has outperformed the Sensex's sharper declines of -12.72% and -14.70% over the same intervals, with one-month and year-to-date returns of -6.20% and -5.36%, respectively. Over a year, the stock's return is 35.93%, far more than the Sensex's -5.47%. The stock reported gains of 246.29% and 610.05% during the three-year and five-year timeframes, whereas the Sensex reported returns of 25.50% and 45.24%.

Godawari Power & Ispat Limited (GPIL), an integrated steel company headquartered in Raipur, was founded in 1999 and is a member of the HIRA Group. With specialized activities in iron ore mining, pellets, sponge iron, steel billets, and ferroalloys, it is a leading secondary steel maker in India.