Godrej Industries shares rise 4% as promoters to acquire stake. Details here

Stock market today: Shares of Godrej Industries surged 4% in intra-day trade on Thursday, March 20, as promoters are set to raise their stake in the company.

Lana Godrej and Sasha Godrej, immediate relatives and part of the promoter group and person action in concert (PAC) of Godrej Industries, are proposed to acquire up to 1,45,000 shares cumulatively, representing a 0.0431% stake, as per an exchange filing dated March 19.

Sasha Godrej looks to acquire up to 40,000 shares of Godrej Industries, amounting to a 0.0119% stake while Lana Godrej is set to pick up to 1,05,000 shares, representing a 0.0312% stake in the company.

The said acquisition of shares is proposed to be completed within four days from the date of this intimation, the exchange filing added.

Godrej Inds gains 4%

Following this update, shares of Godrej Industries rallied in the stock market trade today.

The scrip opened at ₹1180, higher than the previous closing price of ₹1167.50. Thereafter, it extended gains to the day's high of ₹1219, gaining as much as 4% over the last close.

The mid-cap stock, having a market capitalization of ₹40,405 crore, was trading at ₹1195.50 apiece, up 2.40% on the BSE as of 2.15 pm.

Financial snapshot

The company in the last quarter ended December 2024, posted a 77% increase in its consolidated profit to ₹188 crore as against ₹106 crore in the previous year. The company's revenue from operations for the quarter surged by 34.3%, amounting to ₹4,824.83 crore, up from ₹3,590.08 crore a year earlier.

A diversified Indian conglomerate, Godrej Industries is part of the Godrej Group and operates across various sectors, including consumer goods, chemicals, real estate, and agriculture. The company is known for its focus on quality and innovation.

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