HL to transfer 'Nihar' to Marico

Hindustan Lever will transfer its brand 'Nihar' to Marico Ltd.

Fast Moving Consumer Goods (FMCG) major Hindustan Lever Ltd said on Friday that it will transfer its brand 'Nihar' to Marico Ltd.

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The company informed the Bombay Stock Exchange that it has reached an agreement to transfer its coconut oil and perfumed hair oil brand 'Nihar' to Marico.

'Nihar' has a current annualized turnover of about Rs 120 crore, it said.