G G Engineering Share Price Skyrockets Amidst Bullish Market Trend
G G Engineering, a prominent electric and equipment company, witnessed a significant surge in its share price on Wednesday amidst a bullish market. The company’s shares jumped by 4.6% to reach an intraday high of INR 2.46. In recent sessions, the company’s share price has been experiencing continuous fluctuations, with a consistent upward trend over the past five days, surpassing the INR 5 mark. The circuit-to-circuit shares have seen an increase of over 5% in the last five sessions, with a growth rate of more than 60% during this period.
The stock hit an upper circuit on January 19, 20, 21, and 23, after touching the 5% upper circuit limit on January 18. Within minutes of the market opening on January 24, 2019, the company’s share price soared by more than 5%. In the last six months, the circuit-to-circuit stock has witnessed a staggering growth of 115%. On Thursday (January 25, 2024), the share price continued its upward trajectory, rising by 4.88% to INR 2.58.
Reason Behind the Price Surge
The company informed the stock exchange that its board of directors approved the conversion and allocation of 13,50,00,000 warrants into equity shares during their meeting. The issue price of the shares stands at INR 1.32, in accordance with the ICDR (Issue of Capital and Disclosure Requirements) Regulations, 2018.
About G G Engineering
G G Engineering is an electric and equipment company established on January 23, 2006, in Mumbai. The company primarily specializes in the production of structural steel, agricultural pipes, tor steel, and MS pipes. It also offers products related to construction and basic infrastructure.
With the latest surge in its share price, G G Engineering continues to attract investors’ attention and demonstrates its robust growth potential in the market.
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