Godrej Group's stocks up after formalization of family split

2 May 2024 , 12:56 PM

Shares of Godrej Group companies, including Godrej Industries, Godrej Consumer Products, and Godrej Agrovet, witnessed notable gains ranging from 1% to 5% in early trading on Thursday. The surge follows the announcement of a family settlement agreement between Adi Godrej, Nadir Godrej and their cousin Jamshyd Godrej and his family branch . 

At the time of writing, the stocks were trading at ₹897.55 which is a 6.56% dip than the previous close. Whereas the stock has gained 98.33% in the last one year, and 15.09% since the beginning of the year.

As per the agreement, Adi Godrej and Nadir Godrej will retain control over listed entities, while cousin Jamshyd will oversee unlisted companies and land bank holdings. Shareholdings of family members will be realigned across companies to reflect inherited businesses, with both groups operating under the Godrej brand.

The agreement addresses various issues including royalty, brand usage, and land bank development, pending regulatory approvals. Godrej Industries shares have shown positive returns across multiple time frames, with a commendable 22.91% return over the past month and a significant increase of 54.17% over the last six months.

Year-to-date, Godrej Industries shares surged by 25%, and in the last twelve months, delivered a return of over 115.31%, highlighting sustained growth and investor appeal.

Godrej Consumer Products shares also demonstrated positive returns, with a 3.34% increase over the last month and a substantial 26.07% increase over the last six months.

Year-to-date, Godrej Consumer Products shares surged by 9.15%, and in the last twelve months, showed significant growth surpassing 35.32%, indicating strong performance and investor confidence.

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