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Camlin Fine Sciences jumps as Dahej project may kick off in Jan 2020

Capital Market 

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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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, December 06 2019. 11:35 IST