Shares of Godawari Power & Ispat hit a new high of Rs 1,489 after rallying 18 per cent on the BSE in intra-day trade on Monday, after the company’s shareholders approved the proposal for divestment of its shareholding in Godawari Green Energy (GGEL), a material subsidiary of the company. The stock was trading higher for the seventh straight day and has zoomed 51 per cent in the past three trading days.
GGEL is a Special Purpose Vehicle (SPV) promoted by GPIL with an equity stake of 77.82 per cent on fully diluted basis. The company was formed with an objective to set up solar power project under Jawahar Nehru National Solar Mission (JNNSM) of Government of India Phase -I
