MUMBAI - Shares of Godrej Properties Ltd. experienced a slight increase today by 0.69%, reaching ₹2320.15 on the Bombay Stock Exchange (BSE), despite opening marginally lower at Rs 2,298. This comes amidst news of the company acquiring one acre in Bengaluru for apartment construction, with expectations to create around 1.40 lakh square feet of saleable space. The trading session was marked by significant activity for the entity, with Godrej Properties trading 2,684 shares.
Earlier this month, the company had secured another four acres within the same vicinity for a luxury housing venture projected to yield an estimated Rs 1,000 crore from about 0.7 million square feet of developable area. The company's stock is performing robustly, trading just shy of its annual peak and markedly above its lowest point from the previous year.
On the other hand, its counterpart, Godrej Consumer Products Ltd., saw a decrease today by 1.12% to ₹1110.25, concurrent with the Nifty index dropping by over one percent to reach 21,804 points. The trading session witnessed over two million shares of Godrej Consumer Products Ltd. changing hands.
The ownership structure of both companies remains robust with promoters holding a majority stake. In Godrej Properties, promoters own over fifty percent of the company, while in Godrej Consumer Products Ltd., their stake exceeds sixty-three percent. Institutional investors also have a considerable presence in these companies, holding about one-third of the shares in Godrej Properties and over thirty-one percent in Godrej Consumer Products Ltd.
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