{"id":74205,"date":"2022-11-21T13:00:00","date_gmt":"2022-11-21T07:30:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=74205"},"modified":"2022-11-21T12:57:37","modified_gmt":"2022-11-21T07:27:37","slug":"multibagger-stock-surges-19-as-government-withdraws-export-duty-on-steel","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/multibagger-stock-surges-19-as-government-withdraws-export-duty-on-steel\/","title":{"rendered":"Multibagger stock surges 19% as government withdrew export duty\u00a0on steel"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-4103876523\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The shares of Godawari Power and Ispat Limited surged 19.31% during early trades on Monday to reach an intraday high of \u20b9 325.00 apiece.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3126287888\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>The company\u2019s shares rose after the Government scrapped a recently imposed export duty on steel and allied raw materials. This will pave the way for more overseas shipments of steel from India and higher domestic prices.\u00a0<\/p><p>Domestic steel makers made representation to the finance ministry recently, expressing concern over losing out on overseas customers due to the export taxes.&nbsp;<\/p><p>The Government had levied an export duty of 15% on most key grades of steel and 40-45% export duty on raw materials like iron ore and iron ore pellets in May this year. However, it scrapped the duty on Saturday to keep input prices under check for small businesses.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-3130556826\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>This comes at a time when India\u2019s steel exports dipped 66 per cent in October to 360,000 tonnes from 1.05 million tonnes in October 2021.&nbsp;<\/p><p>Tracking the positive development in the industry, many shares were in the green. NMDC was quoting 3.78% higher, KIOCL rose 7.17%, Jindal Stainless was up 7.89%, at 12:08 PM on Monday, while Godawari Power and Ispat Ltd was trading at \u20b9 310.85, up 14.12%, at 12:08 PM on Monday.&nbsp;<\/p><p><strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/GPIL\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">Godawari Power and Ispat Ltd<\/a><\/strong> shares have delivered multibagger returns of 271.28% in the past five years. Its share price increased from \u20b983.63 to the current levels. Therefore, if an investor would have invested \u20b9 1 lakh in the company\u2019s shares five years ago, the value of their holdings would have been \u20b9 3.71 lakhs today.\u00a0<\/p><p>The company mines iron ore and manufactures iron ore pellets, sponge iron, steel billets, wire rods, H.B. wire and ferroalloys with the generation of electricity.\u00a0<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Simran Bafna\u00a0<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer.png\" alt=\"\" class=\"wp-image-26306\" width=\"256\" height=\"256\"\/><\/figure><\/div><p><strong>The content in this news article is not investment advice. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-42536810\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The shares of Godawari Power and Ispat Limited surged 19.31% during early trades on Monday to reach an intraday high of \u20b9 325.00 apiece.&nbsp; The company\u2019s shares rose after the Government scrapped a recently imposed export duty on steel and allied raw materials. This will pave the way for more overseas shipments of steel from [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":62638,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[5186,5187,5188,3464,2660,3913,3912,2659,3643,4787],"class_list":["post-74205","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-godawari-power-and-ispat","tag-godawari-power-and-ispat-share-price","tag-godawari-power-and-ispat-targets","tag-multibagger-returns","tag-multibagger-stock","tag-multibagger-stock-to-buy","tag-multibagger-stock-to-watch","tag-multibaggers","tag-upper-circuit","tag-upper-circuit-stocks"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Multibagger stock surges 19% as government withdrew export duty\u00a0on steel - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/multibagger-stock-surges-19-as-government-withdraws-export-duty-on-steel\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Multibagger stock surges 19% as government withdrew export duty\u00a0on steel\" \/>\n<meta property=\"og:description\" content=\"The shares of Godawari Power and Ispat Limited surged 19.31% during early trades on Monday to reach an intraday high of \u20b9 325.00 apiece.&nbsp; The company\u2019s shares rose after the Government scrapped a recently imposed export duty on steel and allied raw materials. 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