Dabur incorporates wholly owned subsidiary in India

This subsidiary will engage in the business of manufacturing, sale and export of consumer care products.

Dabur India announced that Herbodynamic India has been incorporated as a wholly owned subsidiary of the company, in India.

The company's board in its meeting held on 29 January 2021 had approved incorporation of a wholly owned subsidiary in India for engaging in the business of manufacturing, sale and export of consumer care products.

On the technical front, the stock's RSI (relative strength index) stood at 53.534. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

The stock was trading between its 50-day moving average (DMA) placed at 526.54 and its 200-day moving average (DMA) placed at 503.56.

On a consolidated basis, the company reported a 23.72% jump in net profit to Rs 492.02 crore on a 16% rise in revenue from operations to Rs 2,728.84 crore in Q3 FY21 over Q3 FY20.

Shares of Dabur India rose 0.33% to Rs 524.70 on BSE. Dabur India operates in various product categories, such as hair care, oral care, healthcare, skin care, home care and foods. Its business units include consumer care business, foods business and international business.

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