What to Watch. Stake sale may light up Godfrey Phillips

Godfrey Phillips India on Friday said it will divest its entire stake in Gopal Krishna Infrastructure & Real Estate to the company’s promoter group firm KK Modi Investment & Financial Services. Gopal Krishna Infrastructure is a fully-owned subsidiary of Unique Space Developers, a step-down subsidiary of Godfrey Phillips. The company will receive ₹2.69 crore from the transaction. The company had posted a PAT of ₹78.46 crore in Q3 of the current fiscal.