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Nifty, Sensex Up For Sixth Day, Hindustan Unilever Gets Horlicks Boost

The broader NSE Nifty closed 0.06 per cent higher at 10,883.75, while the benchmark Sensex index ended 0.13 higher at 36,241. Both indexes marked their sixth successive session of gains

Photo Credit : Reuters

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Indian stocks rose today after a truce in trade relations between the United States and China, while shares in Hindustan Unilever jumped after its deal involving GlaxoSmithKline's Horlicks nutrition business.

The broader NSE Nifty closed 0.06 per cent higher at 10,883.75, while the benchmark Sensex index ended 0.13 higher at 36,241. Both indexes marked their sixth successive session of gains.

Hindustan Unilever jumped 4.1 per cent to its best ever closing level after a deal announced by its Anglo-Dutch parent Unilever to buy GlaxoSmithKline's Indian Horlicks business for $3.8 billion.

The merger between the FMCG major Unilever and GSK Consumer is said to be India's largest deal in consumer goods market.

FMCG behemoth Unilever is to buy and merge with GSK Consumer adding its iconic brands Horlicks and Boost to its product portfolio for a whopping $3.8 billion, boosting the Anglo-Dutch group's position in India. The merger is said to be the country's largest deal in consumer goods market.

Meanwhile, shares in Sun Pharmaceutical Industries Ltd, India's top drug manufacturer by market value, slid 7.6 per cent after a report of a regulatory probe against the company.


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