Marico shares up on Paras Pharma buy

The company said it had acquired the personal care business of Paras Pharma.

Written by Agencies | Published:February 16, 2012 12:04 pm

Shares in consumer products maker Harsh Mariwala-led Marico Ltd were trading higher a day after the company said it had acquired the personal care business of Paras Pharmaceuticals from UK’s Reckitt Benckiser.

Marico said it expected revenue of 1.5 billion rupees ($30.4 million)from the acquisition in the current fiscal year that ends March 31.

The acquisition will lessen Marico’s dependence on edible oils and hair oils by contributing 4 percent of its sales,brokerage Edelweiss Capital said in a note.

At 9.34 a.m.,shares were up 4.24 percent at 172 rupees.

Stocks More on

Company INFO More on

Have You Tried These 15 Minutes Recipes Yet?

For all the latest News Archive News, download Indian Express App

    Live Cricket Scores & Results