Godfrey Phillips jumps 7% as Samir Modi drops cases against mother Bina Modi

Samir Modi said he has withdrawn all legal cases against his mother, Bina Modi. The move has raised hopes of a family settlement and improved investor sentiment around Godfrey Phillips.Stock hit Rs 2,410 intraday, trading around Rs 2,317 with 3% gain by noon. Shares of Godfrey Phillips India surged as much as 7% on Tuesday after reports suggested that Samir Modi has withdrawn all legal cases against his mother, Bina Modi, raising hopes of a possible settlement in the long-running dispute over the late K K Modi's business legacy.The stock climbed to an intraday high of Rs 2,410 on the NSE before paring some gains amid profit booking. At around 12 pm, the shares were trading at Rs 2,317.10, up over 3%.Investors viewed the development as a positive signal, believing that an amicable settlement of the family dispute could reduce uncertainty around the Modi Group's businesses and potentially unlock value for shareholders.WHAT TRIGGERED THE RALLY?The rally followed an interview by Samir Modi to The Economic Times, in which he confirmed that he had withdrawn all legal cases against his mother. "I have withdrawn all the cases. I don't want to fight," Samir Modi told the publication.He also expressed hope that the family would eventually reconcile. "Hope is that the family reconciles. Legacies are beyond companies. Families outlast companies," he said.According to the report, Samir Modi has been involved in a prolonged legal dispute with his mother, Bina Modi, over the distribution of the late K K Modi's business empire. The conflict also involved allegations relating to his removal from the board of Godfrey Phillips India in 2024.WHY ARE INVESTORS CHEERING?The Modi family dispute has been an overhang on the group's businesses for the past few years.Moneycontrol reported that investors see Samir Modi's decision to withdraw the legal cases as a step towards resolving the family conflict, which could improve investor confidence and pave the way for value unlocking across the group's businesses.The report added that buying interest in the stock gathered after news of the withdrawal of the cases emerged.WHAT IS THE DISPUTE ABOUT?As per the report, both Samir Modi and his brother Lalit Modi have accused their mother, Bina Modi, of not adhering to the letter and spirit of the family trust created by their late father, K K Modi, for the distribution of the family's wealth.The report said there have been efforts to appoint independent auditors to determine a mutually acceptable valuation of businesses held under the Modi family trust, although no consensus has yet been reached.Godfrey Phillips India is the flagship listed company of the Modi Enterprises Group. The company manufactures and distributes Marlboro cigarettes in India and has a market capitalisation of nearly Rs 35,000 crore, according to The Economic Times.Apart from tobacco, the Modi Enterprises Group has interests in fertilisers, network marketing and cosmetics. Samir Modi currently oversees businesses such as Modicare and Colorbar.- EndsPublished On: Aug 4, 2026 13:55 IST