Shares of Bajaj Corp Ltd today climbed nearly 8 per cent, after the company acquired Ozone Ayurvedics’ Nomarks brands for an undisclosed amount.
After making a bullish opening over yesterday’s closing level, shares of Bajaj Corp further jumped 7.45 per cent to Rs 257.90 on the BSE.
On the NSE, the stock zoomed 7.58 per cent to Rs 258.
With the acquisition, the company aims to strengthen its position in the personal care segment.
Commenting of the acquisition, Bajaj Corp Ltd Chairman Kushagra Nayan Bajaj said yesterday: “The acquisition of Nomarks brand is a strategic move as it enhances our presence in the personal care market and gives us an entry to the skin care category.”
Bajaj has acquired the entire intangible assets of Nomarks including trademarks. Nomarks’ product range includes face wash, facial cream, facial scrub and lotion.