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01 December, 2020 20:44 IST
HUL zooms 10% after announcing acquisition of Vwash from Glenmark
Source: IRIS | 24 Mar, 2020, 11.35PM
Rating: NAN / 5 stars.
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Shares of Hindustan Unilever (HUL) surged 10 per cent to Rs 2,059.80 on the BSE on Tuesday after the consumer goods major announced the acquisition of intimate hygiene brand VWash from Glenmark Pharmaceuticals for an undisclosed sum.

The deal would include an upfront cash payment and a deferred consideration over the next three years, the firm said in an exchange filing yesterday. The acquisition includes intellectual property, trademark and design of the brand.

''The acquisition gives us entry into the currently underpenetrated and rapidly growing female intimate hygiene segment. The brand has a leadership position and fits well into the white spaces in our Beauty and Personal Care business,'' HUL's Chairman and Managing Director, Sanjiv Mehta said.

Shares of Hindustan Unilever  are trading at Rs 2,028.75, up Rs 156.2, or 8.34%  at the Bombay Stock Exchange (BSE) on Tuesday at 3:55 p.m.

The scrip has touched an intra-day high of Rs 2,072.30 and low of Rs 1,946.15. The total volume of shares traded at the BSE is 126,558.

Currently, the stock is trading down  12.07% from its 52-week high of Rs 2,307.20  and above 22.98% over the 52-week low of Rs 1,649.70.



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