Emami jumped 5.78% to Rs 908.05 at 12:02 IST on BSE after the firm said its wholly owned UAE subsidiary acquired controlling stake of 66.67% in Fravin Pty, a company based in Australia.
The announcement was made during market hours today, 22 January 2015.
Meanwhile, the S&P BSE Sensex was up 129.63 points or 0.45% at 29,018.49.
On BSE, so far 59,000 shares were traded in the counter as against average daily volume of 32,447 shares in the past one quarter.
The stock hit a high of Rs 930.05 so far during the day, which is a record high for the counter. The stock hit a low of Rs 860.70 so far during the day. The stock had hit a 52-week low of Rs 421 on 28 January 2014.
The stock had outperformed the market over the past one month till 21 January 2015, advancing 15.36% compared with the Sensex's 5.54% rise. The scrip had also outperformed the market in past one quarter, jumping 11.81% as against Sensex's 8.7% rise.
The large-cap company has equity capital of Rs 22.70 crore. Face value per share is Re 1.
Emami said that Emami Overseas FZE (based in UAE), a wholly owned subsidiary of Emami acquired controlling stake of 66.67% in Fravin Pty (Fravin), a company based in Australia with major strength in R&D and manufacture of natural and organic personal care products in Australia. Consequent to the acquisition, Fravin Pty alongwith its three subsidiary companies have also become subsidiaries of Emami, the company said.
Emami's consolidated net profit rose 16% to Rs 92.76 crore on 20.4% growth in net sales to Rs 489.60 crore in Q2 September 2014 over Q2 September 2013. The company announces its Q3 December 2014 earnings on 28 January 2015.
Emami is one of the leading personal and healthcare businesses in India, with a portfolio of household brand names such as BoroPlus, Navratna, Fair and Handsome, Zandu Balm, Mentho Plus Balm and Fast
Relief.
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