Emami clarified on news item appearing in a financial daily titled "Emami scouts for acquisition in Africa."

"The company always looks forward for its business growth either through organic or inorganic way. In this article also, it has been expressed a desire for future acquisition particularly in skin care market in central and eastern Africa to cater to the demand of these markets. But there is no any specific proposal for such acquisition from any one so as to inform the stock exchanges in this respect," the company said.

Shares of the company gained Rs 25.75, or 4.81%, to settle at Rs 561.25. The total volume of shares traded was 72,479 at the BSE (Monday).