Prevailing holdco discount at 55%, two-year average at ~45% Godrej Industries derives its primarily value from its holding in other group companies. Its share of holding as of date (November 2019) has a market value of ~| 33,000 crore vs. its prevalent market capitalisation of ~| 15,000 crore, thereby implying a holding company discount of ~55%. In the past two years, we have seen this holding company discount averaging at ~45%, providing us hope of prevalent discounts converging towards their mean. Exhibit 1: Holding company discount trend...