Multibagger stock close to record high, shows resilience against stock market crash
Godawari Power and Ispat shares are nearing record highs following a supply agreement with Shanghai Shenyi Roche Energy for a 5 MWh DC Block. This marks a key step in GNEPL's 20 GW Battery Energy Storage initiative, enhancing manufacturing capabilities in the energy sector.
Godawari Power and Ispat shares are trading close to their record high levels on Friday, 24 April after the company announced a major development in its energy storage business.
The company said its wholly owned subsidiary, Godawari New Energy Private Limited, has signed a key supply agreement with Shanghai Shenyi Roche Energy Technology Limited on April 23, 2026. The agreement covers the supply of the Balance of System for a 5 MWh DC Block on a CKD basis.
This signifies the initial stage of GNEPL’s ambitious 20 GWII Battery Energy Storage System (BESS) initiative in Sambhajinagar.
The collaboration is anticipated to provide GNEPL with a dependable, efficient, and cost-effective supply chain, guaranteeing consistent quality as it increases BESS production. Roche Energy contributes its expertise in energy storage design, manufacturing, material provision, and technological support, with competencies covering grid, source, and user-side storage options.
This strategic partnership is expected to enhance Godawari Power and Ispat’s manufacturing capabilities and further extend its footprint in the rapidly evolving energy storage sector.
Godawari Power and Ispat's 52-week high is at ₹310.40, with the present price activity staying just under this benchmark, reflecting continued momentum.
On Friday, the stock began trading at ₹297.30 and reached a high of ₹297.85, with a low of ₹291.90 recorded. The prior close was ₹294.25, indicating a slight upward tendency despite some volatility during the day.
Technical Views
Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, said that after hitting a recent high of ₹310, the stock has seen a gradual correction over the past week. He noted that the broader trend remains intact, with the stock continuing to form a pattern of higher highs and higher lows.
Bhosale added that the current dip should be viewed as a healthy correction, as prices are still holding above key moving averages. He expects strong support around ₹280, where buying interest could emerge. On the upside, ₹310 remains an immediate resistance level, and a decisive breakout above this could trigger the next leg of the uptrend.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
About the Author
Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight years of experience in journalism and content creation, she has honed her skills in data-driven reporting and market analysis. Her focus is on monitoring stock trends, initial public offerings (IPOs), corporate news, policy shifts, and larger economic trends that affect investors and market players. <br><br> At LiveMint, Dhanya consistently writes and produces articles that make complex financial topics accessible to readers. She keeps a close eye on equity markets, commodities, and macroeconomic indicators, assisting audiences in comprehending how global and domestic events influence investment perspectives. Her stories frequently underscore emerging trends within sectors, the IPO market, company earnings results, and market strategies pertinent to both retail and institutional investors. <br><br> Before her tenure at LiveMint, Dhanya accumulated a wealth of professional experience at various companies, including MintGenie, Informist, Cogenics, Chary Publications, KPMG, and the Royal Bank of Scotland. These positions allowed her to establish a solid foundation in financial research, reporting, and content creation. <br><br> Throughout her career, she has explored numerous subjects such as trading strategies, commodities, IPOs, wealth generation, corporate profits, and macroeconomic indicators. Her background in both financial journalism and corporate settings has given her the ability to tackle stories with analytical rigor while ensuring clarity for her audience. Through her contributions, Dhanya strives to deliver insightful, trustworthy, and investor-centric financial content.
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