Promoter entity Godrej Industries on Tuesday bought 11.50 lakh shares worth over Rs 86 crore of Godrej Consumer Products Ltd through open market.
The shares were purchased from another GCPL promoter firm, Godrej And Boyce Mfg Co, according to the block deal information with the BSE.
GCPL shares were bought by Godrej Industries at an average price of Rs 749.8, valuing the transaction at nearly Rs 86.23 crore.
In the quarter ended December, Godrej Industries held about 7.59 crore GCPL shares amounting to a 22.29 stake.
For the same quarter, Godrej And Boyce Mfg Co had 12.35 crore shares of GCPL, representing a 36.30 per cent stake in the company.
GCPL had reported a 13.68 per cent increase in consolidated net profit at Rs 195.77 crore for the third quarter ended December 31, 2013-14.
It had reported a consolidated net profit of Rs 172.20 crore in for the corresponding period of the previous fiscal year (2012-13).
Shares in GCPL, on Tuesday, ended at Rs 757.60 apiece on the BSE, up 1.04 per cent from the previous close.
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