Elder Health Care, a part of the Rs 500-crore Elder group of companies, has informed that it has entered into a strategic alliance with USA-based Combe Incorporated with the launch of men's hair-colour brand, 'Just For Men'.

According to an official release, the men's hair-colour brand will be available in two functional categories - head hair-colours and moustache beard and side-burn colour gels, which will be available in light brown, dark brown and natural black variants.

The packet, which will be cost around Rs 400 each, will be initially launched by the company in Bangalore and Kolkata.

Apart from launch of the new products, the company has also appointed supermodel-cum-actor, Milind Soman, as brand ambassador for the company.

Mumbai-headquartered Elder Health Care Ltd is engaged in the manufacture of a range of FMCG and Skin Care Products through research and development and also products through licensing agreements with Indian and International companies

The shares of the company ends the day at Rs 29, up 4% compared to previous close of Rs 27.75. The counter has made 52-week-high and low of Rs 44 and Rs 19 respectively.