Marksans Pharma Ltd, Torrent Power Ltd, Kalyan Jewellers India Ltd and Bajaj Electricals Ltd are among the other losers in the BSE's 'A' group today, 31 March 2023.

Godawari Power & Ispat Ltd lost 5.11% to Rs 349.3 at 14:47 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 62295 shares were traded on the counter so far as against the average daily volumes of 32500 shares in the past one month.

Marksans Pharma Ltd tumbled 3.63% to Rs 70.96. The stock was the second biggest loser in 'A' group.On the BSE, 2.19 lakh shares were traded on the counter so far as against the average daily volumes of 1.83 lakh shares in the past one month.

Torrent Power Ltd crashed 3.61% to Rs 512.2. The stock was the third biggest loser in 'A' group.On the BSE, 19305 shares were traded on the counter so far as against the average daily volumes of 22540 shares in the past one month.

Kalyan Jewellers India Ltd corrected 3.45% to Rs 106.2. The stock was the fourth biggest loser in 'A' group.On the BSE, 2.98 lakh shares were traded on the counter so far as against the average daily volumes of 6.75 lakh shares in the past one month.

Bajaj Electricals Ltd pared 3.14% to Rs 1068.45. The stock was the fifth biggest loser in 'A' group.On the BSE, 5.32 lakh shares were traded on the counter so far as against the average daily volumes of 4655 shares in the past one month.

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Earlier on 11 February 2023, the company said its sponge iron plant reached capacity utilization level of 98.5% till date and it is required to keep the overall production volumes within the environmental approval limit and therefore was required to shut down the plant with effect from 13 February 2023.

Consequent upon shut down of sponge iron plant, the waste head recovery power plant, steel billets rolling mill and wire drawing plants were also required to be shut down, as the facilities are dependent for input from sponge iron division.

The company said that the complete operations are expected to be resumed from 1 April 2023 onwards.

Godawari Power & Ispat has two captive iron ore mines, pellet plant and a vertically integrated steel plant in Raipur. The steel plant manufactures sponge iron, billets, MS rounds, HB wires, ferro alloys and pre-fab structures.

The company's consolidated net profit declined 60.98% to Rs 128.21 crore on 8.94% fall in sales to Rs 1,462.99 crore in Q3 FY23 over Q3 FY22.

Shares of Godawari Power & Ispat tumbled 4.94% to Rs 345.55 on Friday, 24 March 2023.

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Godawari Power & Ispat has resumed partial operations of Sponge Iron Plant, Power Plants, Steel Melting Shop (SMS Plant), Rolling Mill and Wire Drawing Plants at Siltara, Raipur, Chhattisgarh with effect from 24 March 2023. The complete operations are expected to be resumed w.e.f. 1 April 2023 onwards.

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The maximum buyback price of Rs 500 per equity share represents a 28.77% premium to Friday's closing price of Rs 388.30 on the BSE.

The record date for the same has been fixed on Friday, 31 March 2023.

The company will buyback up to 50 lakh equity shares of face value of Rs 5 each, representing up to 3.66% of the total number of equity shares in the paid-up equity share capital of the company as on 31 March 2022.

The aggregate amount to be spent for the share buyback, amounting upto Rs 250 crore, representing 8.14% and 7.67% of the aggregate of the total paid up equity share capital and free reserves of the company based on the audited standalone and consolidated financial statements of the Company as on 31 March 2022, respectively.

Godawari Power said that the buyback is within the statutory limit of 10% of the aggregate of the total paid-up equity share capital and free reserves of the company.

Godawari Power & Ispat has two captive iron ore mines, pellet plant and a vertically integrated steel plant in Raipur. The steel plant manufactures sponge iron, billets, MS rounds, HB wires, ferro alloys and pre-fab structures.

The company's consolidated net profit declined 60.98% to Rs 128.21 crore on a 8.94% fall in sales to Rs 1,462.99 crore in Q3 FY23 over Q3 FY22.

Shares of Godawari Power & Ispat declined 0.64% to Rs 385.80 on the BSE.

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