Godrej Group stocks witness mixed trends in early trade

NEW DELHI: Shares of Godrej group companies witnessed mixed trends in the morning trade on Thursday after the founding family of the 127-year-old group has reached an agreement to split the conglomerate into two branches.

The group has been split between two branches of the founding family, with Adi Godrej and his brother Nadir on one side and their cousins Jamshyd Godrej and Smita Godrej Crishna on the other.

Adi Godrej and his brother Nadir will have five listed firms, including Godrej Industries and Godrej Properties, while cousins Jamshyd and Smita will get unlisted Godrej & Boyce and its affiliates as well as a land bank, including a prime property in Mumbai.