Emami Gains in Mumbai on Report It May Buy Majority Stake in Paras Pharma

Emami Ltd. gained as much as 7.3 percent in Mumbai trading after the Times of India newspaper reported the company may buy a majority stake in Ahmedabad-based Paras Pharmaceuticals Ltd. for 30 billion rupees.

Emami’s Managing Director Sushil Goenka couldn’t immediately be reached at his office telephone for comment on the report.

To contact the reporter on this story: Hemal Savai in Mumbai at hsavai@bloomberg.net

To contact the editor responsible for this story: Tuhin Kar at tkar1@bloomberg.net

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