GODREJIND

MUMBAI, Feb 27 (Reuters) - India's Godrej Housing Finance plans to raise 5 billion rupees ($57.41 million), including a greenshoe option of 2.50 billion rupees, through the sale of bonds maturing in five years, three bankers said on Thursday.

It will pay an annual coupon of 8.17% on this issue and has invited bids from bankers and investors for the issue on Friday, they said.

The company did not immediately reply to a Reuters email seeking comment.

Here is the list of deals reported so far on February 27:

*Size includes base plus greenshoe for some issues

($1 = 87.1000 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)

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** Shares of Godrej Industries GODI.NS rise 17.4% to 1,011.15 rupees, set to gain for fourth straight session

** Trading vols jump over 24x the 30-day average to 4.5 mln shares, highest since October 9, 2023

** Reuters could not immediately ascertain the reason behind day's move

** Stock set to log best gains in a session since October 6, 2023, when it surged 19.6%

** GODI gained 56.7% in 2024

(Reporting by Vijay Malkar)

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** Shares of Godrej Industries GODI.NS rise 4.8% to 852 rupees

** Co posted a 77% rise in Q3 consol net profit to 1.88 billion rupees ($21.7 million); rev from ops up 34% Y/Y

** Co aided by over two-fold surge in rev from its estate and property development segment, which contributes 24% to the total rev

** More than 1.8 million shares change hands, 20.3x its 30-day avg; set for most active session since September 6

** Stock on track to snap four-day losing streak

($1 = 86.8520 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru)

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Feb 12 (Reuters) - Godrej Industries Ltd GODI.NS:

• GODREJ INDUSTRIES DEC-QUARTER CONSOL NET PROFIT 1.88 BILLION RUPEES

• GODREJ INDUSTRIES DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 48.25 BILLION RUPEES

• GODREJ INDUSTRIES - TO INVEST UPTO 5 BILLION RUPEES IN GODREJ CAPITAL

Source text: [ID:]

Further company coverage: GODI.NS

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By Divya Chowdhury and Praveen Paramasivam

DAVOS, Switzerland, Jan 20 (Reuters) - India's economic slowdown is not expected to show up in the country's housing market, Godrej Industries Group Chairperson Nadir Godrej said in an interview on Monday.

Godrej, an Indian conglomerate which mainly targets the "middle category" of India's housing sector, is keeping a close watch on its debt given the cyclical nature of the business and is hopeful of riding out a potential down cycle, he added.

India forecast its slowest economic growth in four years for the year ending March, weeks after the country's central bank lowered its growth outlook for the next financial year.

Middle class Indians in the country's major cities are already cutting spending due to persistent inflation.

A slowdown is not evident in the housing sector, which struggles during downturns, and nor is one imminent, Godrej told the Reuters Global Markets Forum on the sidelines of the World Economic Forum's annual meeting in Davos, Switzerland.

A Reuters poll published last month forecast house prices in India will rise steadily over the coming years, driven mainly by demand from wealthy individuals. But rising inflation will make owning a property unattainable for most.

Godrej's group, which has annual revenue of more than $6 billion, includes Godrej Properties GODR.NS as well as animal feed and vegetable oil manufacturer Godrej Agrovet GODE.NS and Cinthol soapmaker Godrej Consumer Products GOCP.NS.

Godrej said India's rural economy is improving due to an increase in consumption in villages.

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(Reporting by Divya Chowdhury in Davos and Praveen Paramasivam in Chennai; Editing by Alexander Smith)

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Dec 12 (Reuters) - Godrej Industries Ltd GODI.NS:

• ACQUIRES 26% STAKE IN CLEAN MAX KAZE

Source text: ID:nNSEbf48dw

Further company coverage: GODI.NS

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MUMBAI, Nov 18 (Reuters) - India's Godrej Industries GODI.NS plans to raise 10 billion rupees ($118.44 million), which will include a greenshoe option of 5 billion rupees through sale of bonds maturing in three years and six months and in five years, three bankers said on Monday.

The company has invited bids from bankers and investors for the issue on Tuesday, they said.

The company did not immediately respond to a Reuters query seeking comment.

Here is the list of deals reported so far on Nov. 18:

* Size includes base plus greenshoe for some issues

($1 = 84.4340 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Sherry Jacob-Phillips)

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Nov 13 (Reuters) - Godrej Industries Ltd GODI.NS:

• GODREJ INDUSTRIES SEPT-QUARTER CONSOL NET PROFIT 2.88 BILLION RUPEES

• GODREJ INDUSTRIES SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 48.05 BILLION RUPEES

Source text: ID:nBSE6CCWCZ

Further company coverage: GODI.NS

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Nov 12 (Reuters) - Godrej Industries Ltd GODI.NS:

• SIGNS AGREEMENT TO ACQUIRE BUSINESS OF SAVANNAH SURFACTANTS

• SIGNS AGREEMENT TO ACQUIRE FOOD ADDITIVES AND EMULSIFIER BUSINESS

• ESTIMATED INVESTMENT AMOUNT 760 MILLION RUPEES

Source text: ID:nBSE8k9t95

Further company coverage: GODI.NS

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** Shares of Mumbai-based conglomerate Godrej Industries GODI.NS rise as much as 4.5% to 939.88 rupees

** GODI's June quarter profit more than doubles Y/Y; revenue up 7.5% Y/Y

** Stock set for a third straight session of gains, if trend continues

** Stock rose 23% YTD

(Reporting by Yagnoseni Das in Bengaluru)

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Aug 7 (Reuters) - Godrej Industries Ltd GODI.NS:

• APPROVAL FOR RAISING OF FUNDS UP TO 30 BILLION RUPEES

Source text for Eikon: ID:nBSE2lTgVS

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BENGALURU, August 1 (Reuters) - India's Godrej Agrovet GODE.NS reported a 28.3% rise in first-quarter profit on Thursday, helped by falling input costs.

Consolidated net profit rose to 1.35 billion rupees ($16.1 million) for the three months ended June 30 from 1.05 billion rupees a year earlier.

During the quarter, which saw parts of the country experiencing heatwaves and floods, prices of food, which account for nearly half of India's retail inflation, rose more than 8% each month, adding pressure on the spending power of the rural consumers.

Godrej Agrovet's total revenue from operations fell 6.4% to 23.51 billion rupees while total expenses fell nearly 8%, led by a fall in the cost of materials consumed.

The animal feed business, which includes cattle and fish feed and forms nearly half of the company's revenue, fell 10%.

Revenue from crop protection and poultry and processed food businesses declined 4.6% and 24.5%, respectively, while dairy and vegetable oil saw a slight uptick.

As part of its expansion plans, Godrej Agrovet will set up a new feed plant in Maharashtra state with an initial investment of 1.10 billion rupees.

Its shares ended 3.9% lower.

($1 = 83.7070 Indian rupees)

(Reporting by Ashish Chandra in Bengaluru; Editing by Mrigank Dhaniwala)

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June 26 (Reuters) - Godrej Industries Ltd GODI.NS:

• GODREJ INDUSTRIES - GETS LETTER JOINTLY FROM PROMOTERS THAT REALIGNMENT PURSUANT TO FAMILY SETTLEMENT AGREEMENT EXPECTED TO BE COMPLETED IN JULY

Source text for Eikon: [ID:]

Further company coverage: GODI.NS

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MUMBAI, June 25 (Reuters) - India's Tata Power Renewable Energy, a subsidiary of Tata Power Co TTPW.NS, has accepted bids aggregating to 7 billion rupees ($83.92 million) for bonds maturing in five years and 10 years, respectively, three bankers said on Tuesday.

The issuer will pay a coupon of 7.93% on both the bond issues and had invited bids for the same earlier in the day.

Here is the list of deals reported so far on June 25:

*Size includes base plus greenshoe for some issues

($1 = 83.4090 Indian rupees)

(Reporting by Bhakti Tambe and Dharamraj Dhutia; Editing by Sohini Goswami)

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June 21 (Reuters) - Godrej Industries Ltd GODI.NS:

• GODREJ INDUSTRIES - APPROVED KEY INFORMATION DOCUMENT (KID) FOR ISSUANCE OF NON-CONVERTIBLE DEBENTURES

• GODREJ INDUSTRIES LTD - ISSUANCE OF NON-CONVERTIBLE DEBENTURES AGGREGATING UP TO 5 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: GODI.NS

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MUMBAI, June 20 (Reuters) - India's Godrej Industries GODI.NS plans to raise up to 5 billion rupees ($59.8 million), including a greenshoe of 2.5 billion rupees, through bonds maturing in three years and six months, two bankers said on Thursday.

The company will pay a coupon of 8.42% on these bonds and is likely to invite bids for the issue next week.

In February, Godrej Industries had raised 10 billion rupees via bonds maturing in two years and six months, and another in three years and six months.

Here is the list of deals reported so far on June 20:

*Size includes base plus greenshoe for some issues

($1 = 83.5982 Indian rupees)

(Reporting by Bhakti Tambe; Editing by Savio D'Souza)

(([email protected]))

** Shares of most Godrej group companies fall after conglomerate announces restructuring

** Godrej Properties GODR.NS and Godrej Industries GODI.NS drop 6% and 7.2%, respectively

** GODR top loser in Nifty Realty .NIFTYREAL and among top losers in mid-cap index .NIFMDCP100; GODI among top losers in Nifty 500 .NIFTY500

** Astec Lifesciences ASTE.NS sheds ~3%, while Godrej Consumer Products GOCP.NS and Godrej Agrovet GODE.NS up 0.5% and 3% respectively

** Godrej family has decided to restructure its shareholding in the conglomerate to operate as two entities - Godrej Enterprises Group and Godrej Industries Group

** "Restructuring rules out any potential option value that could have emerged from the Vikhroli land (in Mumbai) for Godrej Properties," says CLSA, reiterating a "sell" recommendation on rich valuations

** Godrej Industries Group operates via listed companies including Godrej Industries, Godrej Consumer Products, Godrej Properties, Godrej Agrovet and Astec Lifesciences

(Reporting by Bharath Rajeswaran and Hritam Mukherjee in Bengaluru)

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Corrects to "agrees" from "agree" in headline

BENGALURU, May 1 (Reuters) - India's Godrej family has decided to restructure its shareholding in the conglomerate to operate as two entities, Godrej Enterprises and Godrej Industries, according to a filing late on Tuesday.

The realignment will be implemented after the relevant regulatory approvals have been obtained, after which the two companies will continue to use the Godrej brand, it added.

Godrej Enterprises Group (GEG) will be headed by 75-year-old Jamshyd Godrej as chairperson and managing director and his niece Nyrika Holkar as executive director.

GEG operates across aerospace, aviation, defence and liquid engines among others.

Jamshyd Godrej was earlier serving as managing director and chairman of Godrej & Boyce, the privately held company, founded in 1897.

Nadir Godrej, 73, will serve as chairperson of Godrej Industries Group (GIG), which operates via listed companies including Godrej Industries GODI.NS, Godrej Consumer Products GOCP.NS, Godrej Properties GODR.NS, Godrej Agrovet GODE.NS and Astec Lifesciences ASTE.NS. GIG will be controlled by Nadir's brother Adi Godrej and their immediate family.

82-year-old Adi Godrej stepped down as chairman of Godrej Industries in August 2021, handing over the reign to his brother, Nadir Godrej.

Adi Godrej's son Pirojsha Godrej will be named chairperson of GIG, succeeding Nadir Godrej in August 2026.

(Reporting by Ashna Teresa Britto in Bengaluru; Editing by Eileen Soreng)

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** Shares of Godrej Agrovet Ltd GODE.NS fall as much as 5.3% to 506.15 rupees

** Animal feed maker says unit got assessment order from Commercial Taxes Department with penalty of 58.1 mln rupees ($696,387.18)

** Adds, co proposes to challenge the order before the higher courts/authorities

** Stock on track to lose for 4th straight day

** More than 134,000 shares traded as of 1:45 p.m. IST, busiest day yet since April 4

** Mean rating of 7 brokerages rating the stock is "Buy"; median PT is 570 rupees - LSEG data

** GODE last down 2.9%, adding to YTD losses of ~7%

($1 = 83.4306 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru)

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Feb 29 (Reuters) - Godrej Industries Ltd GODI.NS:

• GODREJ INDUSTRIES LTD - MADE FURTHER INVESTMENT IN UNIT GODREJ CAPITAL LIMITED

• GODREJ INDUSTRIES LTD - CO NOW HOLDS 89.48% OF TOTAL PAID UP SHARE CAPITAL OF GODREJ CAPITAL

• GODREJ INDUSTRIES LTD - FURTHER ACQUISITION OF SHARES OF GODREJ CAPITAL FOR A TOTAL CONSIDERATION OF 2.85 BILLION RUPEES

Source text for Eikon: ID:nBSE9HftN1

Further company coverage: GODI.NS

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MUMBAI, Feb 28 (Reuters) - India's Godrej Industries GODI.NS has accepted bids worth 10 billion rupees ($120.7 million) for bonds maturing in two years and six months, and another in three years and six months, three bankers said on Wednesday.

The company will pay an annual coupon of 8.36% and 8.40% to investors of this issue, and had invited bids on Tuesday, they said.

In September, Godrej Industries raised 4 billion rupees through bonds maturing in three years and five months at a coupon of 8.29%.

Here is the list of deals reported so far on Feb. 28:

* Size includes base plus greenshoe for some issues

($1 = 82.8820 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Varun H K)

(([email protected]))

MUMBAI, Feb 26 (Reuters) - Godrej Industries GODI.NS plans to raise an aggregate of up to 10 billion rupees ($120.65 million) through two bonds, one maturing in two years and six months and the other in three years and six months, three bankers said on Monday.

The company has invited bids from investors from bankers and investors for both the issuances on Tuesday, they said.

In September, Godrej Industries raised 4 billion rupees from bonds maturing in three years and five months at a coupon of 8.29%.

Here is the list of deals reported so far on Feb. 26:

($1 = 82.8850 Indian rupees)

(Reporting by Bhakti Tambe; Editing by Sonia Cheema)

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Feb 9 (Reuters) - Godrej Industries Ltd GODI.NS:

• DEC-QUARTER CONSOL NET PROFIT 1.06 BILLION RUPEES VERSUS 3.15 BILLION RUPEES YEAR AGO

• DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 35.9 BILLION RUPEES VERSUS 38.43 BILLION RUPEES YEAR AGO

Source text for Eikon: ID:nBSE7lbsFN

Further company coverage: GODI.NS

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** Shares of agribusines firm Godrej Agrovet GODE.NS fall 3.3% to 547.8 rupees, log steepest drop since Oct.

** Fall in shares after co's Q3 profit shrank 21%, hurt by weak demand and inventory destocking; rev from ops rose marginally by 0.8%

** Co had reported 47% growth in Q2 profit on Nov 3, shares gained ~17% since then until last close

** Despite Friday's losses, shares up 2.4% this week after three straight weeks of losses

** Shares gained ~19% in 2023

** Analysts' avg rating is equivalent of "hold", their median PT is 480 rupees - at 15.3% discount on last close - LSEG data

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

Adds details from company statement in paragraphs 5, 6 and 8

BENGALURU, Feb 1 (Reuters) - India's Godrej Agrovet GODE.NS reported a 21% fall in third-quarter profit on Thursday, hurt by soft demand and inventory destocking.

Consolidated net profit fell to 918.4 million rupees ($11.1 million) for the three months ended Dec. 31 from 1.16 billion rupees a year earlier, the company said in an exchange filing.

The company's overall inventory levels have fallen 15.5% due to the ongoing destocking across the sector, according to analysts. This in turn affected the bottom line of the company.

Total expenses for the quarter rose 0.23%, while total revenue was flat at 23.45 billion rupees.

The company's agrochemical unit - Astec LifeSciences, has been facing extremely challenging external market conditions which have severely impacted its topline and margin performance, B.S. Yadav, Managing Director at Godrej Agrovet said in a statement.

Astec LifeSciences faced challenges in selling its enterprise products due to an excess of inventory in key markets, affecting both pricing and demand for these products, the company added.

The animal feed segment, which constitutes more than half of the total revenue, rose 1.5% year-on-year.

Godrej Agrovet's core profit margins for the quarter contracted to 7.3% from 9.2% a year earlier.

Shares of the company rose 1.9% on Thursday ahead of the results.

($1 = 82.9800 Indian rupees)

(Reporting by Navamya Ganesh Acharya in Bengaluru; Editing by Sohini Goswami and Mrigank Dhaniwala)

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** Shares of India's Astec LifeSciences ASTE.NS down 4.2% to its lowest levels since Dec 2020

** Agricultural chemicals maker posted Q3 consol net loss of 243.3 mln rupees vs 8.4 mln rupees profit; rev falls by over 50%

** Co on track for fifth consecutive month of decline, longest monthly losing streak since late 2012-early 2013

** About 56,000 shares changed hands by 12:52 p.m. IST, nearly 1.5x 30-day avg

** Stock fell over 17% in Q3 FY2024, and ended CY2023 with a loss of 37.5%

(Reporting by Hritam Mukherjee in Bengaluru)

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The Day Ahead is an email and PDF publication that includes the day's major stories and events, analyses and other features. To receive The Day Ahead, Eikon users can register at DAY/US. Thomson One users can register at RT/DAY/US. All times in ET/GMT

The U.S. Labor Department's weekly report is expected to show initial claims for state unemployment benefits likely rose 5,000 to a seasonally adjusted 207,000 for the week ended Jan. 13. Meanwhile, continued jobless claims for the week ended Jan. 6 are expected to be at 1.845 million. In a report from the U.S. Commerce Department, overall building permits are expected to rise to 1.480 million units in December from 1.467 million units in the prior month. Meanwhile, housing starts numbers are likely to drop to 1.426 million units in December from 1.560 million units in November.

Federal Reserve Bank of Atlanta President Raphael Bostic is scheduled to give brief remarks on the economic outlook before the Metro Atlanta Chamber board of directors meeting. (0730/1230) Separately, Bostic will also speak on the 2024 economic outlook before the Atlanta Business Chronicle 2024 Economic Outlook lunch. (1205/1705)

KeyCorp is expected to report a fall in fourth-quarter profit, hurt by a drop in the income charged off interest payments.

Truist Financial is also expected to join rival banks in posting smaller fourth-quarter profits as higher funding costs weigh on interest income.

Northern Trust is expected to post a rise in fourth-quarter profit, benefiting from an increase in its fee-based income.

Paints and coatings maker PPG Industries is expected to report a rise in fourth-quarter profit, helped by higher demand for its industrial coatings boosted by growth of automotive sales and manufacturing in the quarter. Investors and analysts will look out for comments on full-year growth expectations.

Argentina's trade data for December will be on the radar. The country's trade balance will likely expand to a surplus of 536 million in December from a deficit of 615 million in the month before.

LIVECHAT – REUTERS GLOBAL MARKETS FORUM

The GMF hosts over 40 interviews with company CEOs, investors and though leaders live from the World Economic Forum in Davos, Switzerland. On Thursday: Becky Frankiewicz, COO, ManpowerGroup; Nadir Godrej, MD, Godrej Industries; Kalyan Kumar, Global CTO, HCL Tech; Jeff Maggioncalda, CEO, Coursera; Erik Ekudden, CTO, Ericsson; Simon Freakley, CEO, AlixPartners; Valentyn Hvozdiy, Chairman of the Supervisory Board, Ukrhydroenergo; Jennifer Steinmann, Global Sustainability & Climate Practice Leader, Deloitte; Takeshi Niinami, CEO, Suntory. To join the forum and participate in the conversation, email [email protected]

(Compiled by Kumar Satyam; Editing by Tasim Zahid)

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** Shares of Godrej Industries GODI.NS rise as much as 6.8% to hit a new record high at 898 rupees

** GODI said on Friday it may plan to invest 6 bln rupees ($72.23 mln) over the next four years on expansion in plant at Valia as part of deal signed with Gujarat government

** GODI has hit record highs in six out of the last seven sessions, including Monday

** Trading vol 2.3x the 30-day daily avg

** Stock rose 30.7% in Dec qtr, its best quarterly performance since June 2020

($1 = 83.0680 Indian rupees)

(Reporting by Ashish Chandra in Bengaluru)

(([email protected] (+91 7982114624))

Jan 5 (Reuters) - Godrej Industries Ltd GODI.NS:

• INKS NON-BINDING MEMORANDUM OF UNDERSTANDING (MOU) WITH GUJARAT GOVERNMENT

• MAY PLAN TO INVEST 6 BILLION RUPEES OVER NEXT 4 YRS ON EXPANSION IN VALIA

Source text for Eikon: [ID:]

Further company coverage: GODI.NS

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** Kotak Institutional Equities says exuberance around interest rate cuts, supply issues on chemical stocks could wane as sector still has growth issues in 2024

** Some stocks like Atul ATLP.NS, Aarti Industries ARTI.NS , Rallis India RALL.NS, SRF SRFL.NS, Tata Chemicals TTCH.NS, National Fertilizers NAFT.NS, Godrej Agrovet GODE.NS have rallied between 7%-17% in December

** Current data around chemical demand and pricing remains soft, demand still weak - brokerage

** 2024 outlook for crop commodities is quite mixed with low reservoir levels in India and lower agri commodity prices in U.S., Kotak says

** Import prices into India remain weak, as do export prices out of the U.S. - brokerage

(Reporting by Sethuraman NR in Bengaluru)

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