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Godrej Industries, Godrej Consumer, Godrej Agrovet jump 1-5% after family decides to split business empire
May 03, 2024 02:40 pm

Divya Delhi :Early Thursday trading saw gains of over 1% to 5% for Godrej Group equities, including Godrej Industries, Godrej Consumer Products, and Godrej Agrovet, following an agreement by the Godrej family to divide the conglomerate into two branches.The share price of Godrej Industries surged by 3% to a new 52-week high of ₹989.90 per share on the BSE. Similarly, the share prices of Godrej Consumer Products and Agrovet each increased by 2.8% and 5.5%, respectively.In contrast, the share price of Godrej Properties fell more than 4.4% in early trading on May 2.The family settlement agreement, which was publicly disclosed by the company, stipulates that Adi Godrej and his sibling Nadir Godrej shall retain ownership of the publicly traded companies. The unlisted Godrej & Boyce Mfg. Co. Ltd will be bequeathed to the Crishna and Jamshyd Godrej, who are siblings. The organization possesses stakes in numerous industries, including aerospace, aviation, defense, engines and motors, construction, furniture, software, and IT. It shall operate as a subsidiary of the Godrej Enterprises Group.Family members' shareholdings will be realigned across companies in order to correspond with the enterprises they inherited. Every group will persist in utilizing the Godrej trademark. Additionally, matters pertaining to royalties, brand usage, and land bank development are encompassed within the agreement.