Inox Group reaches settlement over division of business; stocks rise

Share prices of Inox Wind and Inox Leisure are up 130 and 56 per cent since January 1.

The share prices of Inox Group companies, including flagship Gujarat Fluorochemicals, rose on Wednesday following the group’s statement that the family has amicably decided to divide its businesses among the promoters.

The share price of GFL was up 3.1 per cent with total market valuation rising to Rs 22,876 crore. The stock is up by 266 per cent year-to-date.

According to the filing made to the stock exchanges, Pavan Jain, 70, gets Inox Leisure and unlisted Inox Air Products, while younger brother Vivek Jain, 66, gets GFL, Inox Wind, and Inox Wind Energy. Share prices of Inox Wind and Inox Wind Energy