Shares of Godrej Industries opened lower on December 19 after a significant block deal involving 27.7 lakh shares, representing 0.9% of the company’s equity, was executed at ₹1,164 per share. The transaction, valued at approximately ₹323 crore, saw the stock decline nearly 2% in early trading. The identities of the buyer and seller involved in the deal remain undisclosed.
By 10:15 a.m., the stock was trading at ₹1,130, reflecting a 1.96% drop from the previous close.
Despite this dip, Godrej Industries has demonstrated strong performance recently, gaining around 9% over the past month. In its Q2 results, the company reported a remarkable 229.98% year-on-year increase in net profit to ₹288 crore. Revenue from operations grew 22% to ₹4,805 crore compared to ₹3,937.6 crore in the same quarter last fiscal. The EBITDA also witnessed a sharp rise, surging to ₹288 crore from ₹87.3 crore in the corresponding period of the previous year.
The block deal and subsequent decline in share price come amidst robust financial performance, underscoring market interest in the stock.
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Source: Moneycontrol
News Desk
