Camphor & Allied Products jumped 7.69% to Rs 345 at 12:05 IST on BSE after the company entered in to a multi-year manufacturing and supply agreement with US-based International Flavours and Fragrances Inc.
The announcement was made after market hours today, 26 November 2014.
Meanwhile, the S&P BSE Sensex was down 27.31 points or 0.1% at 28,310.74
On BSE, so far 21,322 shares were traded in the counter as against average daily volume of 10,112 shares in the past one quarter.
The stock hit a high of Rs 370 and a low of Rs 335 so far during the day. The stock had hit a record high of Rs 432.90 on 16 November 2014. The stock had hit a 52-week low of Rs 114 on 3 December 2013.
The stock had underperformed the market over the past one month till 25 November 2014, falling 8.14% compared with the Sensex's 5.54% rise. The stock had also underperformed the market in past one quarter, rising 0.88% as against Sensex's 7.19% rise.
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The small-cap company has equity capital of Rs 5.13 crore. Face value per share is Rs 10.
Camphor & Allied Products entered in to a multi-year manufacturing and supply agreement for the manufacture of fragrance ingredient intermediates and finished products with International Flavours and Fragrances Inc. (IFF) with headquarters in USA. IFF is one of the top five Fragrance and Flavours manufacturing company with presence in several countries.
This arrangement will strengthen the company'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, Camphor & Allied Products said in a statement.
Camphor & Allied Products' net profit dropped 59.5% to Rs 2.30 crore on 21.5% rise in net sales to Rs 92.38 crore in Q2 September 2014 over Q2 September 2013.
Camphor & Allied Products is a pioneer in the manufacture of Terpene and Petrochemical based Fragrance Chemicals and Fragrance Chemical intermediates in India.
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