Dabur gains on Amrutanjan acquisition buzz

DALAL STREET SPIKES

Fast moving consumer goods major Dabur India has shot up by over 9 per cent on Wednesday on rumours that the company was taking over the Chennai-based cold balm maker Amrutanjan Ltd.

The stock has gained Rs 12.15 to touch Rs 146.30 during the session in which the stock reported volumes of over 4.79 lakh shares.

"If what we have heard in the market is correct, it will strengthen Dabur India's position in the cold related pharmaceuticals segment," an analyst of a leading brokerage said.

The Rs 1,339 crore Dabur group has acquired Balsara Hygiene & Home Products for Rs 143 crore in January 2005, the process of which was completed in April.

Besta Cosmetics and Balsara Hygiene that effectively brings management control of these entities as well to Dabur India. Dabur is India's most recognised herbal specialist company and a trusted name in the field of natural and herbal healthcare worldwide.