Emami shines on inking pact to acquire 26% stake in Axiom Ayurveda
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Emami is currently trading at Rs. 531.00, up by 18.35 points or 3.58% from its previous closing of Rs. 512.65 on the BSE.
The scrip opened at Rs. 525.85 and has touched a high and low of Rs. 537.80 and Rs. 516.75 respectively. So far 11899 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 582.00 on 11-Sep-2023 and a 52 week low of Rs. 340.95 on 20-Mar-2023.
Last one week high and low of the scrip stood at Rs. 537.80 and Rs. 508.10 respectively. The current market cap of the company is Rs. 22377.17 crore.
The promoters holding in the company stood at 54.52%, while Institutions and Non-Institutions held 37.68% and 7.80% respectively.
Emami has entered into definitive agreements to acquire 26% of shareholding of Axiom Ayurveda (Axiom) on a fully diluted basis, which owns the brand ‘Alofrut’ - a proprietary fusion of aloe Vera pulp with fruit blend. This investment is in line with Emami’s strategy to invest in Health & Wellness segment and will also help Emami to enter into this growing segment.
Emami is the flagship company of the Emami Group and engaged in manufacturing products under various categories namely Hair Care, Skin Creams and Lotions, Talcum Powder and ayurvedic health care products.
