MUMBAI (Reuters) - Shares of Emami Ltd and Amrutanjan Health jumped on Monday on a report Emami was eyeing the Chennai-based maker of pain balms, but Amrutanjan clarified its promoters did not intend to exit the firm.
Emami gained 8.85 percent to close at 684.2 rupees and Amrutanjan Health rose by the maximum permissible 20 percent to 1,227.65 rupees.
The Times of India newspaper had on Saturday quoted personal care maker Emami's chairman R.S.Agarwal as saying he was interested in buying Amrutanjan.
Emami wrote to the stock exchanges on Monday that its chairman had "only expressed his desire" to acquire any fast moving consumer goods or pharma business or company, including Amrutanjan, within its financial and operational resources.
Amrutanjan told the stock exchanges on Monday that its promoters had no intention to sell out and did not forsee any reason to dilute their stake and exit from Amrutanjan.
"We are interested in buying it (Amrutanjan) as we are interested in any other firm," Mohan Goenka, group director Emami, told Reuters on Monday.
"We haven't discussed it with Amrutanjan, we haven't discussed it with anybody, unnecessarily people have made it an issue," he said.
He said Emami does not own any shares in Amrutanjan.
(Reporting by Nandita Bose; Editing by Ramya Venugopal)
(For more business news on Reuters Money visit http://www.reutersmoney.in)
No comments:
Post a Comment