Indian Stock market was trading marginally lower on Tuesday after closing...
Speculations regarding Dabur India, a personal care and food product maker, buying the 30 plus brand from Ajanta pharmaceuticals has triggered the increase of the shares of the pharmaceutical company.
On the Bombay Stock Exchange, it was reported that the price of shares in Ajanta and Dabur surged up to Rs 263.70 and Rs 101.70, respectively.
The buyout, which is expected this week and said to be under Rs 50 crore as it has been designed in a way that gives the new owners total control of the brand, its trademark uses all over markets and geographies.
Although top officials of the company have refused to comment on the speculated buyout, it has been reported that it will be the third acquisition of Dabur in 10 months after the purchase of the Turkey-based personal care firm Hobi Kozmetik last year along with American personal care maker Namaste Labs.
After the launch of the 30 plus brand, which is a capsule for men over 30-years, the makers Ajanta ceased investing in the brand as they moved from OTC products to specialty prescription drugs.
However, Dabur has stated last year that OTC health care would trigger major growth under their new vision plans, which will double their turnover and profits by 2013-2014.