Camphor & Allied Products (CAPL) has soared 14% to Rs 366, extending its previous day’s nearly 4% gain on BSE, after the company said it has entered in to a multi-year manufacturing and supply agreement for the manufacture of fragrance ingredient intermediates and finished products with US-based International Flavours and Fragrances Inc. (IFF).
“This arrangement will strengthen CAPL's manufacturing capabilities and leverages on the strengths of both companies and deliver enhanced value to all the stake holders in India and across the Globe,” the company said in a statement.
Camphor & Allied Products is a pioneer in the manufacture of terpene and petrochemical based fragrance chemicals and fragrance chemical intermediates in India.
IFF is one of the top five fragrance and flavours manufacturing company with presence in several countries.
The stock opened at Rs 336 and hit a high of Rs 370 on BSE. Till 1042 hours around 17,000 shares changed hands as against an average sub 10,000 shares that were traded daily in past two weeks on BSE.
Meanwhile, the stock had dipped 17% after the company reported a sharp 60% year on year dropped in its net profit to Rs 2.30 crore for the quarter ended September 2014, due to higher expenditure. The stock fell from Rs 373 on November 13 to Rs 309 on November 24.
“This arrangement will strengthen CAPL's manufacturing capabilities and leverages on the strengths of both companies and deliver enhanced value to all the stake holders in India and across the Globe,” the company said in a statement.
Camphor & Allied Products is a pioneer in the manufacture of terpene and petrochemical based fragrance chemicals and fragrance chemical intermediates in India.
IFF is one of the top five fragrance and flavours manufacturing company with presence in several countries.
The stock opened at Rs 336 and hit a high of Rs 370 on BSE. Till 1042 hours around 17,000 shares changed hands as against an average sub 10,000 shares that were traded daily in past two weeks on BSE.
Meanwhile, the stock had dipped 17% after the company reported a sharp 60% year on year dropped in its net profit to Rs 2.30 crore for the quarter ended September 2014, due to higher expenditure. The stock fell from Rs 373 on November 13 to Rs 309 on November 24.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%