Cosmo Films advances on forming subsidiary in Poland

Cosmo Films gained 1.31% to Rs 316.50 at 12:15 IST on BSE after the company said that CF (Netherland) Holding B.V., a wholly owned subsidiary of the company has setup a wholly owned step down subsidiary in Poland.

The announcement was made during market hours today, 7 February 2018.

Meanwhile, the S&P BSE Sensex was down 19.59 points, or 0.06% to 34,176.35. The S&P BSE Small-Cap index was up 312.97 points, or 1.8% to 17,705.04, outperforming the Sensex.

On the BSE, 4,079 shares were traded in the counter so far, compared with average daily volumes of 7,926 shares in the past one quarter. The stock had hit a high of Rs 330 and a low of Rs 310.05 so far during the day. The stock had hit a record high of Rs 468.80 on 28 April 2017. The stock had hit a 52-week low of Rs 294.65 on 6 February 2018.

The stock had underperformed the market over the past one month till 6 February 2018, declining 18.55% compared with 0.12% rise in the Sensex. The scrip had also underperformed the market in past one quarter, dropping 19.8% as against Sensex's 1.38% rise. The scrip had also underperformed the market in past one year, sliding 17% as against Sensex's 20.24% rise.

The small-cap company has equity capital of Rs 19.44 crore. Face value per share is Rs 10.

The stock has declined 11.12% in three sessions to Rs 312.40 yesterday, 6 February 2018, from a close of Rs 351.50 on 1 February 2018.

Cosmo Films said that CF (Netherland) Holding B.V., a wholly owned subsidiary of the company has setup a wholly owned step down subsidiary in Poland namely Cosmo Films Poland SP.Z.O.O. for the purpose of sale and distribution of the products manufactured by the company and/or its subsidiaries.

Cosmo Films' consolidated net profit fell 49.6% to Rs 9.77 crore on 33.4% rise in net sales to Rs 481.23 crore in Q3 December 2017 over Q3 December 2016.

Established in 1981, Cosmo Films is a global leader in speciality films for packaging, lamination and labeling applications. Its films offerings include biaxially oriented polypropylene (BOPP) films, cast polypropylene (CPP) films and soon to be offered biaxially oriented polyethylene terephthalate (BOPET) films.

Powered by Capital Market - Live News