Shares of Zydus Wellness Wednesday soared over 4 per cent following the CCI's approval to Zydus Cadila's acquisition of Heinz India's consumer wellness business.
The stock surged 4.52 per cent to close at Rs 1,362.90 on the BSE. During the day, it went up by 5.18 per cent to Rs 1,371.5.
On the NSE, shares of the company zoomed 4.32 per cent to settle at Rs 1,362.05. It had hit the intra-day high of Rs 1,370, a gain of 4.92 per cent compared with the previous close.
The company's market valuation stood at Rs 5,325.14 crore on the BSE.
In terms of equity volume, a combined of more than 45,000 shares of the company were traded on the BSE and NSE.
Zydus Wellness jointly with Cadila Healthcare signed definitive pacts to acquire Heinz India for Rs 4,595 crore that includes net working capital of Rs 40 crore, cash worth Rs 15 crore and assumes no debt.
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The Competition Commission of India (CCI) in a tweet Tuesday said it "approves acquisition of businesses of Heinz related to four brands namely Glucon-D, Nycil, Sampriti Ghee and Complan by Zydus/Cadila".
Heinz India is a subsidiary of the US-based Kraft Heinz. Cadila Healthcare holds majority stake in Zydus Wellness.
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