Meanwhile, the S&P BSE Sensex was up 111.68 points, or 0.35% to 31,858.77.
On the BSE, 80,000 shares were traded in the counter so far, compared with average daily volumes of 64,548 shares in the past one quarter. The stock had hit a high of Rs 96 and a low of Rs 90.45 so far during the day. The stock hit a 52-week high of Rs 119.60 on 26 October 2016. The stock hit a 52-week low of Rs 74.20 on 25 May 2017.
The stock had outperformed the market over the past one month till 11 July 2017, rising 4.66% compared with 2.09% rise in the Sensex. The scrip had underperformed the market in past one quarter, falling 5.92% as against Sensex's 7.10% rise. The scrip had also underperformed the market in past one year, falling 6.31% as against Sensex's 14.16% rise.
The small-cap company has equity capital of Rs 10.37 crore. Face value per share is Re 1.
Camlin Fine Sciences along with its subsidiary CFS Europe SpA, Italy has acquired 51% stake in China's Ningbo Wanglong Flavors and Fragrances Company (NWFFCL) from Wanglong Technology Company for $6.28 million.
NWFFCL, a medium sized company, was incorporated on 20 November 2015. NWFFCL is engaged in research, development and production of flavour and fragrance (Vanillin). It sells its products directly to food manufacturers, distributors and to industrial customers globally.
The acquisition will make Camlin Fine Sciences the third largest producer of Vanillin in the world. NWFFCL will have relevant processes and equipments in operation besides adequate installed capacity for operations to support future growth. It will market its products through its own sales force directed from its headquarters.
NWFFCL production facility is strategically located in an industrial zone set up as a joint venture between Italian Government and Chinese Government and utilizes proprietary processes and technology.
Post joint venture, NWFFCL will possess market knowledge, strong distribution channels, flexible manufacturing capabilities and demonstrated brand loyalty.
On a consolidated basis, Camlin Fine Sciences reported net loss of Rs 9.83 crore in Q4 March 2017 as against net profit of Rs 14.25 crore in Q4 March 2016. Net sales rose 14.63% to Rs 149.43 crore in Q4 March 2017 over Q4 March 2016.
Camlin Fine Sciences provides shelf-life extension solutions including antioxidants, aroma ingredients and performance chemicals. It caters to the food, pet food and animal nutrition sectors as well as pharmaceutical, dye, biodiesel, petrochemical, agrochemical, textile and tanning industries.
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