The Godrej Group companies’ shares are soaring up to 15 per cent as the parent company Godrej Industries bought nearly 1 million shares of Godrej Agrovet via open market purchases.  

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In this regard, Godrej Agrovet surging most among the group companies by around 15 per cent, hit a fresh 52-week high of Rs 661.05 per share on the BSE intraday trade today. The agricultural products company has surpassed its previous high of Rs 596 per share, touched on May 12, 2021. 

While Godrej Industries trading near a 52-week high level, surged by almost nine and a half per cent to Rs 585 per share on the BSE intraday trade today. While other two group companies Godrej Consumer and Godrej Properties marginally surged by around one per cent on Wednesday. 

Godrej Industries purchased 976,047 shares, representing 0.51 per cent of the total equity of Godrej Agrovet, worth Rs 55.63 crore on Tuesday, June 22, 2021.  

According to the data available on exchanges, the promoter bought these shares at a price of Rs 570 per share through a bulk deal on the BSE. Balram Singh Yadav, an individual investor, sold 1.0 million shares at Rs 570.01 per share, the data portray. 

Godrej Industries, as of March 31, 2021, held 59.90 per cent stake, while Balram Yadav held 4.28 million (2.23 per cent stake) in Godrej Agrovet, shareholding pattern data shows. 

As around 12:00 pm, Godrej Agorvet zoomed over 13 per cent to Rs 653.10 per share, while Godrej Industries by around eight per cent to Rs 574.55 per share on the BSE today. The former has surged doubled the latter by over 18 per cent in the last five trading sessions. 

Godrej Agrovet has a well-diversified business across segments: Animal feed 46 per cent, crop protection 17 per cent, oil and palm business 13 per cent, dairy business 15 per cent, and poultry and package food 9 per cent.