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.