Godrej Industries Hits 52-Week High as it Explores Rs 600 Crore Investment in Gujarat Expansion

8 Jan 2024 , 01:05 PM

Godrej Industries share price reached a 52-week high of Rs 894.85 in early trade on January 8, marking the second recent gain.

The surge followed the signing of a non-binding MoU between Godrej Industries and the Gujarat government.

Under the MoU, the company contemplates investing Rs 600 crore over the next four years to expand operations in Valia.

Godrej Industries currently operates a manufacturing facility in Valia, Bharuch district, producing various oleochemical products derived from organic materials.

The strategic collaboration reflects the company’s commitment to growth, innovation, and contributing to the economic development of the region, according to Godrej Industries (Chemicals) CEO Vishal Sharma.

The investment is expected to enhance operational capabilities, create employment opportunities, and foster economic prosperity, Sharma added.

At the time of writing, the stock was trading at Rs 883.45, reflecting a 5.03% increase from the previous close.

The share, which previously touched a 52-week high of Rs 854.50 on the BSE, has witnessed a more than 100% surge over the past nine months.

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