1:5 Stock Split For The First Time: 4th October Fixed As Record Date; Bullish/Bearish Target Price?

A fully integrated steel firm, Godawari Power & Ispat Limited works throughout the entire steel value chain. The company produces high-value steel products and iron ore pellets in addition to extracting iron ore from its two owned mines. It is well-known for its integrated steel facilities and strong manufacturing competencies, making it a significant participant in the Indian steel sector. Godawari Power & Ispat Limited is a reliable supplier of superior steel products that satisfy a wide range of consumer demands in different industries.

Godawari Power And Ispat Stock Split

"This is to inform you that in terms of Regulation 42 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, the Company has fixed Friday, 4th October, 2024 as the Record Date for the purpose of Sub-division of 1 (One) Equity Share of the face value of Rs. 5/-each (Rupees Five Only) fully paid-up into 5 (Five) Equity Shares of Re.1/- each (Rupee One Only) fully paid-up," said the company in a stock exchange filing.
"In the opinion of the Board, proposed sub-division of the equity shares is in the best interest of the Company and its investors and therefore, the Board at its meeting held on August 07, 2024, approved the aforesaid proposal for sub-division subject to requisite approval of the members. There will not be any change in the amount of authorized, subscribed and paid-up share capital of the Company consequent upon sub-division of equity shares," said Godawari Power And Ispat in a statement.

Godawari Power And Ispat Stock Split Update

"Upon Sub-division of the Equity Shares as aforesaid, Five (5) Equity Shares of the face value of Rs 1/- each to be allotted in lieu of existing One (1) Equity Share of Rs 5/- each, subject to the terms of the Memorandum and Article of Association of the Company and shall rank pari-passu in all respects with the existing fully paid-up Equity Shares of Rs 5/- each of the Company and shall be entitled to participate in full after the Sub-divided Equity Shares are allotted. Upon the Sub-division of the Equity Shares as aforesaid, the existing Share Certificate(s) in relation to the existing Equity Shares of the face value of Rs 5/- each held in physical form shall be deemed to have been automatically cancelled and be of no effect on and from the Record Date and the Company may without requiring the surrender of the existing Share Certificate(s) directly issue and dispatch the new Share Certificate(s) of the Company, in lieu of such existing issued Share Certificate(s) and in the case of the Equity Shares held in the dematerialized form, the number of Subdivided Equity Shares be credited to the respective beneficiary accounts of the Shareholders with the Depository Participants, in lieu of the existing credits representing the Equity Shares of the Company before Sub-division," said Godawari Power And Ispat in its FY24 annual report.

Godawari Power Share Price Target

"Godawari Power stock price is bullish on the Daily charts with strong support at 903. A Daily close above resistance of 962 could lead to a target of 1060 in the near term," said A R Ramachandran, Independent Research Analyst.

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