Hi vindi, above 69

ok buddy...thanks

CB alok indurstries can be bought today???

Hi raj, yes, can see 31.

Emami eyes one more buy in Africa
Viveat Susan Pinto/Mumbai 22 Nov 10 | 12:16 AM

Kolkata-based Emami, maker of the Fair & Handsome and Boroplus cream brands, is in talks to acquire a personal care company in Africa.

The deal size and name of the firm could not be ascertained. If it fructifies, this will be the second acquisition for Emami in Africa in the current financial year. In June, it acquired the manufacturing facility of a personal care company in Egypt for Rs 25 crore. The current acquisition, in contrast, will be a brand acquisition, say persons in the know.

When asked, Harsh Agarwal, director, Emami Ltd, declined to comment, saying the plans were preliminary. He did, however, indicate the firm hoped to do one acquisition abroad and one in the domestic marketplace this year.

The step-up in acquisition plans follows board approval last month for investing up to Rs 5,000 crore in India and abroad in personal care and healthcare. The company had hinted that debt would have a significant role in the financing, thanks to board approval for raising long-term funds of up to Rs 2,000 crore through the issue of securities. The company's borrowing limit was being enhanced to Rs 3,000 crore from Rs 1,500 crore for the purpose. It also got board sanction to increase authorised share capital to Rs 20 crore from Rs 16 crore, hinting at possible use of equity, too, to raise money.

In recent months, Emami has been linked to a number of high-profile acquisitions, including the ongoing one concerning Paras Pharmaceuticals.

Media reports had also named it as a possible contender for the brands of Mumbai-based Vicco Laboratories. But the latter has denied its ayurvedic brands, which comprise turmeric skin creams, toothpastes, tooth powders, etc, were up for sale. In an email to Business Standard, Vicco Labs' director, Sanjeev Pendharkar, said: "We have been exporting our products to developed and developing countries, and are a leading manufacturer of ayurvedic medicines, with factories in Nagpur, Mumbai and Goa. Our graph of growth has been going up steadily. How, then, can we think of selling our brands?"

Emami's Agarwal also said his firm had not been approached for a possible buyout of Vicco brands. "I have no knowledge of this," he said.

But he did say it was talking to two or three companies in the domestic marketplace for possible acquisitions. Internationally, Agarwal said, beside Africa, Europe was also being considered for acquisitions. "Targets come up a little easily abroad than in India," Agarwal said. "Valuations are also not too stretched."

Despite a paucity of targets, India, too, appears to be getting reasonable in terms of valuations. The initial bids that Ahmedabad-based Paras attracted, for instance, were in the region of $700 million, way below the $1 billion indicated earlier.

Hi som, yes, has support at 60. can see some bounce from here.

cb sir good mornig, can i buy united phos at this current level....

Avoid trading in fertilizer stocks today..they are likely to drag low as the fertilizer ministry turns down proposal to free urea prices