Camlin Fine rose 5.57% to Rs 62.55 after the company said that the commercial production at Dahej project in Gujarat is most likely to be expected in January 2020.The announcement was made after trading hours on Thursday, 5 December 2019.
The company said that financial closing for the Dahej project is achieved and 95% of the project is completed. Water trials have been commenced. Trial runs are expected after mechanical completion. A delay of 3-4 weeks is expected due to persistent monsoon.
Commercialization of Dahej facility will make Camlin Fine Sciences the 2nd largest producer of hydroquinone (HQ) and Catechol in the world.
Meanwhile, the S&P BSE Sensex was down 128 points or 0.31% to 40651.57.
On the BSE, 29,812 shares were traded in the counter so far compared with average daily volumes of 26,282 shares in the past two weeks. The stock hit a high of Rs 63.95 and a low of Rs 60.9 so far during the day.
The stock hit a 52-week high of Rs 71.05 on 24 Oct 2019. The stock hit a 52-week low of Rs 38.8 on 16 May 2019.
On a consolidated basis, net profit of Camlin Fine Sciences rose 429.77% to Rs 6.94 crore on 10.40% rise in net sales to Rs 222.28 crore in Q2 September 2019 over Q2 September 2018.
Camlin Fine Sciences is a provider of high-quality shelf life extension solutions including antioxidants, aroma ingredients and performance chemicals.
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