Here’s Why Godrej Industries and Godrej Properties Shares Dip Up to 9%, While Godrej Agrovet and Godrej Consumer Rise
Godrej Group stocks witnessed significant fluctuations on Thursday, with Godrej Industries Ltd and Godrej Properties Ltd witnessing declines of up to 9%, while Godrej Agrovet Ltd and Godrej Consumer Products Ltd saw gains of up to 3%. The fluctuations followed an announcement by the promoter family regarding an ownership realignment of shareholdings in the Godrej companies.
Under the realignment, the Godrej Industries Group (GIG), comprising listed companies such as Godrej Industries, Godrej Consumer Products, Godrej Properties, Godrej Agrovet, and Astec Lifesciences, will be chaired by Nadir Godrej and controlled by Adi Godrej, Nadir Godrej, and their immediate families. Meanwhile, the Godrej Enterprises Group (GEG), including Godrej & Boyce (G&B) and its affiliates, will be overseen by Jamshyd Godrej, Chairperson and Managing Director, Nyrika Holkar, Executive Director, and their immediate families.
According to the Godrej group, this realignment aims to enhance strategic direction, focus, and agility, thereby accelerating the creation of long-term value for shareholders and stakeholders.
Shares of Godrej Industries, the holding company for the Godrej group, plummeted by 8.91% to Rs 875 on the BSE, while Godrej Properties experienced a 5.77% decline to Rs 2,495.75. On the other hand, Godrej Consumer Products saw a 1.1% increase to Rs 1,232.95. Godrej Agrovet witnessed a gain of 2.77% to Rs 559.75, whereas Astec Lifesciences, promoted by Godrej Agrovet, registered a 1.1% decline to Rs 1,273.75.
