Emami acquires Dermicool brand for Rs 432 crore; stock hits 52-week low

The stock of Emami has underperformed the market by falling 23 per cent in the past six months, as compared to a 5 per cent decline in the S&P BSE Sensex.

Shares of Emami hit a 52-week low of Rs 442.50, down 2 per cent on the BSE in Monday’s intra-day trade after the company announced the acquisition of "Dermicool", one of the leading brands in Prickly Heat Powder and Cool Talc category from Reckitt,  for a total consideration of Rs 432 crore excluding taxes and duties.  The stock fell below its previous low of Rs 446 touched on March 7, 2022.

The company said the acquisition is funded through internal accruals and is subject to customary closing conditions.

The brand "Dermicool" is popular for providing cooling and respite