Godrej Industries surges 6.4%

The Godrej Industries scrip surged 6.42 per cent to Rs 200.60 on property development plan. The company’s board will enter into agreements with two group firms — Godrej & Boyce Manufacturing and Godrej Properties — for developing property in the city suburbs at Vikhroli in Mumbai.

The agreement provides for setting up of SPV to execute joint development of the property and commercial terms for such development, including sharing of costs, revenues and profit. The stock made an intra-day high of Rs 204.95. Total traded volumes stood at 15.2 lakh shares.