Shares of most Godrej group companies surged 2-8 percent on May 2 after the founding family reached an agreement to split the 127-year-old conglomerate into two branches.
The family has decided to restructure its shareholding within the conglomerate, dividing operations into two distinct entities: Godrej Enterprises and Godrej Industries.
As part of the split, Adi Godrej and his brother Nadir will stay at the helm of the listed entities which will come under Godrej Industries.
On the other hand, cousin Jamshyd Godrej gets the control of unlisted companies and the land bank which will come under Godrej Enterprises.
Shares of Godrej group’s listed companies displayed a mixed trend in trading on Thursday following the announcement of a split within the conglomerate, as the founding family reached a settlement to divide the business into two branches.
Godrej Industries witnessed a decline of up to 9 per cent, trading at 872.90, while Godrej Agrovet surged over 5 per cent, reaching an intraday high of 573.00 on the National Stock Exchange (NSE).
Conversely, shares of Godrej Properties experienced a decline of 6.25 per cent, touching an intraday low of Rs 2,479.35 on the NSE.
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