Godrej Consumer gains on partnership with the Darling Group

[epicresearch]

Shares of Godrej Consumer Products (GCPL) rallied 2.5% Tuesday as the company has entered into an agreement for exclusive rights to include the hair extensions business in Kenya and exports to other East Africa geographies in its partnership with the Darling Group.

"The transaction is expected to close after obtaining necessary regulatory approvals. The Godrej Darling business will include about 65% of the overall Darling Group business," the company said.

In October 2011, GCPL had completed the acquisition of 51% stake in Darling Group in Mozambique.

At 11:49 hours IST, the share was trading at Rs 669, up 1.26% after hitting a high of Rs 677 and low of Rs 658.05 in morning trade.

Market capitalisation of the company currently stands at Rs 22,767.81 crore.