Godrej Industries stock hits all-time high on Agrovet IPO approval

Godrej Agrovet's listing would help to unlock companies value

The Godrej Industries (GIL) stock hit an all-time high on Monday as the company’s board approved the initial public offering (IPO) of its subsidiary, Godrej Agrovet. Even on Tuesday, the sentiment was good, with the stock going up 1.4 per cent. Apart from the IPO plans of Godrej Agrovet, there are many factors that have raised GIL’s game.

Godrej Agrovet operates in the animal feed, agri inputs, and oil palm businesses, and has recently forayed into dairy. It has delivered strong annual growth of 18 per cent and 22 per cent, respectively, in revenues and net profits between FY11 and