Astec Financial News

Jindal Stainless: On May 1, the company announced a three-pronged investment strategy worth ₹5,400 crore with the aim of achieving global leadership in stainless steel. As part of its expansion strategy, the company entered into a joint venture to develop and operate a stainless-steel melt shop (SMS) in Indonesia with an annual production capacity of 1.2 million tonnes per annum (MTPA). Jindal Stainless plans to invest ₹700 crore in this partnership.

Subscribe to enjoy similar stories.At his glass-walled office, Pirojsha Adi Godrej, 45, the chairman designate of Godrej Industries, sits with his back to the renowned mangroves of Vikhroli stretching into the horizon. Pirojsha, who collects manuscripts ranging from the Mughal era to contemporary times, is now dedicated to nurturing the storied Godrej legacy, which grew significantly during his father (Adi Godrej) and uncle’s (Nadir) eras. The succession comes two years after the 129-year-old Godrej group split into two—Godrej Industries Group and Godrej Enterprises Group.

Subscribe to enjoy similar stories. MUMBAI: Godrej Industries Group is restructuring its financial services businesses to prepare for expansion into new segments, including wealth management, following an announcement it first made in August 2025. The listed holding company, Godrej Industries Ltd, last week incorporated a new subsidiary, Godrej Investment Ltd, which will serve as the umbrella entity for all its financial services operations, according to an executive familiar with the plans.

Burjis Godrej, son of Nadir Godrej, chairman of Godrej Industries Group (GIG), has taken charge as the managing director of Astec LifeSciences, marking his first major leadership and accountability role within the organization. Burjis assumes his new role this month at the listed entity without any remuneration, taking over from Anurag Roy, who resigned as CEO of Astec in October 2024. At 34, Burjis is the elder son of Nadir Godrej, while his younger brother, Hormazd, has also recently joined Godrej Agrovet. Nadir Godrej is the younger brother of GIG chairman emeritus, Adi Godrej. «Getting the opportunity to make an impact in a sector that is a key focus area of the group and is important for growing India’s R&D and manufacturing footprint was more important to me personally than the remuneration. I look forward to working closely with the Astec team to drive growth in this business,» Burjis Godrej told ET. He also served as a non-executive director at Astec LifeSciences Since 2022, Burjis Godrej has held the position of Executive Director at GAVL. He was previously a Non-Executive Director at Astec LifeSciences and Godrej Maxximilk. Burjis has specialized in agrochemical projects for Astec LifeSciences and the crop protection division of Godrej Agrovet. His responsibilities included evaluation of products, synergies, technologies, business models, geographical markets, and capital expenditure

Stocks that rallied over 10% included, Avenue Supermart(13.64%), Astec Lifesc(13.59%), Ashiana Ispat(11.94%), Rasi Electrodes(11.11%), Pasari Spinning(11.03%), Jayaswal Neco(11.02%) and Uma Exports(10.82%).

Godrej and Smita V Crishna are setting up a family council following the business realignment in April, said people with knowledge of the matter. In addition to this, the Crishna branch will set up a family office comprising Smita Crishna and her daughters Freyan and Nyrika. Nyrika, who is executive director at Godrej & Boyce, will head this family office. Her sister is a non-executive director of Godrej & Boyce.

commercial complex Godrej One to Godrej Industries for Rs 157 crore. Along with the office space spread over 8th and 9th floor of the North wing of the commercial tower, Godrej Industries will also get exclusive access to a total 75 car parking slots in the building. The buyer has paid stamp duty of Rs 9.42 crore for the registration of the transaction. The office space on the 9th floor has already been leased to managed flexible workspace provider Simpliwork Offices for a period of 60 months until March 31, 2026. This lease will also be transferred to Godrej industries as the new landlord, showed the documents accessed through Propstack.

restructuring of the group, announced late Tuesday, will result in two entities: Godrej Enterprises Group and Godrej Industries Group. While Godrej & Boyce Mfg. Co.

Godrej Group, which has both the listed and unlisted entities, decided to split the conglomerate and operate as two entities — Godrej Enterprises and Godrej Industries. The conglomerate operates across aerospace, aviation, defence and liquid engines among others. 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.

NEW DELHI : The storied Godrej group that took birth as a lock-maker 127 years ago is finally dividing its assets, as its descendants choose to split the businesses to align with their differing visions for the future. The third-generation siblings, Adi and Nadir, children of Burjor, late on Tuesday reached an agreement to separate from their cousins Jamshyd and Smita, children of Naval, a family statement said. Godrej & Boyce Mfg.

Adi Godrej and his brother Nadir keeping Godrej Industries that has five listed firms, while cousins Jamshyd and Smita getting unlisted Godrej & Boyce and its affiliates as well as a land bank, including prime property in Mumbai. The group has been split between two branches of the founding family, with Adi Godrej (82) and his brother Nadir (73) on one side and their cousins Jamshyd Godrej (75) and Smita Godrej Crishna (74) on the other, according to a statement issued by the group. Godrej Enterprises Group — comprising Godrej & Boyce and its affiliates that have a presence across multiple industries spanning aerospace and aviation to defence, furniture and IT software — will be controlled by Jamshyd Godrej as chairperson and managing director. His sister Smita's daughter Nyrika Holkar, 42, will be the executive director.

Nadir Godrej resigned from the board of Godrej & Boyce earlier this year, while Jamshyd Godrej relinquished his seat on boards of GCPL and Godrej Properties. The amicable separation is between two branches of the founding family with Adi Godrej and brother Nadir Godrej on one side and their cousins Jamshyd Godrej and Smita Godrej Crishna on the other. The latter two are brother and sister.

BSE Midcap and Smallcap indices lost over 4% each. The broader market had outperformed the benchmark indices over the past one year even as there were pockets of concern around the one way rally.

Shares of Godrej Properties Ltd.(up 4.45 per cent), Brigade Enterprises Ltd.(up 3.3 per cent), Phoenix Mills Ltd.(up 2.55 per cent), DLF Ltd.(up 1.15 per cent) and Prestige Estates Projects Ltd.(up 0.68 per cent) ended the day as top gainers in the pack. On the other hand, Macrotech Developers Ltd.(down 2.07 per cent), Mahindra Lifespace Developers Ltd.(down 0.75 per cent), Sobha Ltd.(down 0.36 per cent) and Swan Energy Ltd.(down 0.33 per cent) finished as the top losers of the day.

Benchmark NSE Nifty closed 385.0 points up at 21737.6 amid buying in frontline bluechip counters. However, stocks such as Astec Lifesc, Tatva Chintan Pharm, GSS Infotech, Lords Chloro and Gandhar Oil Refinery, touched their fresh 52-week lows.

IDFC First Bank Ltd.(up 2.44 per cent), Kotak Mahindra Bank Ltd.(up 2.35 per cent), Federal Bank Ltd.(up 2.23 per cent), Bandhan Bank Ltd.(up 2.13 per cent) and Punjab National Bank(up 2.01 per cent) were among the top gainers. Au Small Finance Bank Ltd.(down 9.26 per cent) were the top losers on the index.

Want to take exposure to a sector which grows much faster than GDP

Benchmark NSE Nifty closed 73.86 points up at 21618.7 amid buying in frontline bluechip counters. However, stocks such as Astec Lifesc, Raj Rayon, Happy Forgings, Gandhar Oil Refinery and IndInfravit Trust, touched their fresh 52-week lows.

Shares of GlaxoSmithKline Pharmaceuticals Ltd.(up 5.5 per cent), Cipla Ltd.(up 3.09 per cent), Abbott India Ltd.(up 1.55 per cent), Ipca Laboratories Ltd.(up 1.19 per cent) and Sanofi India Ltd.(up 1.02 per cent) ended the day as top gainers in the pack. On the other hand, Divi's Laboratories Ltd.(down 2.05 per cent), Gland Pharma Ltd.(down 1.66 per cent), Granules India Ltd.(down 1.43 per cent), Laurus Labs Ltd.(down 1.28 per cent) and Alkem Laboratories Ltd.(down 1.13 per cent) finished as the top losers of the day.

SRF and UPLL (versus KIE estimates) and ATLP, DN and TTCH (versus consensus). Given rich valuations and recent strength in stock prices, we remain cautious on the sector and see risks of disappointing returns from most leading stocks," the brokerage firm said in its report.

₹1.76 lakh crore business conglomerate, is heading for a split in an amicable manner, a report said on October 3, citing persons privy to the development. The two factions between whom the 126-year-old business giant is set for a split are – Godrej Industries & Associates, which is headed by brothers Adi and Nadir Godrej, and Godrej & Boyce Manufacturing Company (G&B) led by their cousins Jamshyd Godrej and Smitha Godrej Crishna, the Economic Times report said.