FMCG firm Bajaj Corporation Ltd (BCL) plans to pursue acquisitions targeting niche brands and tap rural areas to push growth, particularly in light hair oil segment, where it aims to have a market share of 65 percent.
The hair oil maker's net sales in April-June rose 23 percent to Rs 170 crore. It raised its advertising spends last quarter by 52 percent to Rs 15 crore.
Hair oil maker Bajaj Corp has raised price of its largest selling brand 'Almond Drops' by 8.6% to offset input costs pressures, MD Sumit Malhotra said on Wednesday.
It has been one of the top companies in the Rs 10,000 crore hair care industry in India, and is now looking at expanding in other geographies. Bajaj Corp, the maker of Bajaj Almond Drops and Kailash Parbat brands of hair oils says it is speaking with several potential targets right now and has several consultants advising it on it.