On December 12, 2024, Godrej Industries bought a 1.07% stake in Godrej Properties, acquiring around 1.32 crore shares for ₹4,933.69 crore, as per news reports.
In a significant development in the Indian stock market, Godrej Industries has acquired a 1.07% stake in its subsidiary, Godrej Properties, through bulk deals on December 12, 2024.
The deal involved the purchase of approximately 1.32 crore shares, with a total value of ₹ 4,933.69 crore.
In Q2 FY25, Godrej Industries reported a 22% year-on-year increase in revenue from operations, reaching ₹4,804.96 crore. Profit before tax saw a significant rise of 78.61% compared to the same period last year, totalling ₹428.66 crore.
Total expenses for the quarter rose by 17.6% to ₹4,815.08 crore, up from ₹4,094.51 crore in Q2 FY24. The cost of materials consumed was ₹2,418.57 crore, marking a 1.53% increase year-on-year.
Employee benefits expenses grew by 11.37%, amounting to ₹340.80 crore, while finance costs surged by 43.17% to ₹476.92 crore during this period.
On December 13, 2024, Godrej Industries share price traded 0.11% lower at ₹1,074.25 at 11:45 AM on the NSE. The stock opened at ₹1,090, higher than the previous close of ₹1,075.40. Meanwhile, Godrej Properties’ share price traded 2.78% lower at ₹2,800.35, against ₹2880.35 at the previous close.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
Published on: Dec 13, 2024, 11:51 AM IST
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