Emami gains 1.4% as it enters male deodorant space

MUMBAI: Shares of Emami moved higher in a weak market after the company announced that it is foraying into India's male deodorant segment, the largest and fastest growing category in male grooming.

The company is rolling out a new brand ' He' which it wants to eventually extend into the entire space of male grooming in areas such as skin and hair care.

Emami director Harsha V Agarwal said the company has also appointed Bollywood actor Hrithik Roshan as brand ambassador for He deodorants. "We want to notch up to 5-6 per cent share of the deodorant market in India in two years which will make He brand around Rs 100-130 crore by then," he said.

At 09:30 a.m.; the stock was at Rs 463.55, up 1.37 per cent, on the BSE. It touched a high of Rs 465 and a low of Rs 457 in trade today.