Emami share price jumps nearly 5% on foray into juice category with Axiom Ayurveda stake buy
₹537.80 apiece on the BSE. The FMCG major Emami acquired 26% equity stake in Axiom Ayurveda Pvt Ltd, which markets beverage products under the brand “AloFrut". Apart from AloFrut, which constitutes the key business of the Axiom Ayurveda, the company has a unique range of carbonated beverages that includes mocktails and energy drinks.
It is also present in the Ayurvedic healthcare juice segment under the Jeevan Ras brand, Emami said in a release. Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here! “AloFrut" product offering is very unique as these beverages are based on Aloe pulp inclusion in fruit juice which provides a perfect mix of taste and health together. We are excited to be present in this category which is in line with our corporate growth strategy to invest in categories or brands that not only have synergy with our existing business but offer potential for growth.
We look forward to add meaningful value to the brand," said Harsha V Agarwal, Vice Chairman & MD, Emami Ltd. Also Read: SEBI asks MCX to keep commodity derivative platform launch in 'abeyance' Axiom has its own manufacturing facility in Ambala, Haryana and is setting up a fully automated new facility in Jammu (Kathua) at a cost ₹160 crore. AloFrut has a strong market presence across General Trade, Government Institutions, Modern Trade & E-Commerce platforms, the company said.
Emami share price has risen over 28% in the last three months, while the stock is up more than 24% year-to-date (YTD). At 10:10 am, Emami shares were trading 3.40% higher at ₹530.10 apiece on the BSE. Catch Live Market Updates here"Exciting news! Mint is now on WhatsApp Channels
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