Godfrey Phillips

In October 2022, Godfrey Phillips divested from the chewing business by sale/ assignment of associated trademarks and certain non-current assets to focus more on cigarette business

Shares of Godfrey Phillips hit a new high of Rs 1,842.70 as they rallied 5% on the BSE in Thursday's intra-day trade, and have zoomed 97% from its February low of Rs 937 on the BSE.

According to the technical analyst from Anand Rathi, Godfreh Phillips can jump to Rs 1,320, while Zydus Wellness can be bought for a target of Rs 1,860.

Cigarette maker Godfrey Phillips India on Monday announced the appointment of Sharad Aggarwal as Chief Executive Officer.

Analysts view the development as negative for ITC, Godfrey Phillips and VST Inds

Currently while there are four independent directors at present, there are five non-independent ones, including Ruchir Modi and R A Shah, who is chairman of the company

According to sources, the report of the independent directors on the board has not been circulated among the members ahead of Tuesday's meeting

Ruchir points out that his grandmother Bina still runs the company as the president and managing director despite her ouster by public shareholders.

The sector witnessed the last steepest decline in 2015 when sales volume contracted by 8.2 per cent

An ITC spokesperson, too, said the company was relying on innovative products across different price points to maintain its market dominance

Despite market burn, tobacco major posts 13.1% volume growth

The new move comes just days after Lalit Modi, through a series of tweets, had declared war on his family members, saying that all key assets of the K K Modi group were up for sale

The difference regarding the sale of assets comes in the backdrop of the death of K K Modi in November last year

GPI is part of the KK Modi group of companies, in the news after one of the family members, Lalit Modi, stated all assets of the group are up for sale.

Godfrey Phillips clarified that it is neither engaged nor privy to any such discussions on "rumoured potential transaction by its promoters"

The company had reported a net profit of Rs 72.33 crore in the July-September quarter a year ago, Godfrey Phillips said in a BSE filing

The consolidated income of the company during April-June increased to Rs 858.49 crore, from Rs 612.56 crore in the year-ago quarter

Its revenue from cigarette and tobacco products was down 38.86% to Rs 576.23 crore as against Rs 942.62 crore

Company had reported a standalone net profit of Rs 58.88 crore in the same quarter a year ago