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Emami Gains in Mumbai on Paras Pharma Stake Purchase Report

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Dec. 2 (Bloomberg) -- 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.

Link to Company News:{HMN IN <Equity> CN <GO>}

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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