Camlin Fine Sciences rose 4.69% to Rs 94.90 at 11:56 IST on BSE after the company said that it has entered into a preferred supply agreement with Lockheed Martin Advanced Energy Storage.
The announcement was made before market hours today, 15 November 2017.Meanwhile, the S&P BSE Sensex was down 87.63 points, or 0.27% to 32,854.24. The S&P BSE Small-Cap index was down 26.29 points, or 0.15% to 17,513.31, outperforming the Sensex.
More than usual volumes were witnessed on the counter. On the BSE, 3.03 lakh shares were traded in the counter so far, compared with average daily volumes of 1.84 lakh shares in the past one quarter. The stock had hit a high of Rs 97 and low of Rs 91.60 so far during the day. The stock had hit a 52-week high of Rs 118.90 on 6 January 2017. The stock had hit a 52-week low of Rs 71 on 13 September 2017.
The stock had underperformed the market over the past one month till 14 November 2017, rising 0.61% compared with 1.57% rise in the Sensex. The scrip had, however, outperformed the market in the past one quarter, gaining 14.53% as against Sensex's 4.75% rise. The scrip had, however, underperformed the market in the past one year, dropping 11.78% as against Sensex's 22.83% rise.
The small-cap company has equity capital of Rs 10.38 crore. Face value per share is Re 1.
Camlin Fine Sciences said that it has entered into a preferred supply agreement with Lockheed Martin Advanced Energy Storage, United States of America (LMAES), a company registered under the laws of United States of America, in relation to supply of specialty chemicals for a term which shall be valid through 31 December 2025.
None of the promoter/promoter group/group companies have any interest in LMAES.
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The preferred supply agreement does not fall within related party transactions. Details pertaining to significant terms and conditions, broad commercial consideration and size of the preferred supply agreement have not been provided since such information are confidential in terms of the preferred supply agreement, and in the commercial and competitive interest of the company.
Camlin Fine Sciences reported consolidated net loss of Rs 3.38 crore in Q2 September 2017 compared with net profit of Rs 0.75 crore in Q2 September 2016. Net sales rose 29.5% to Rs 144.21 crore in Q2 September 2017 over Q2 September 2016.
Camlin Fine Sciences is a provider of high-quality shelf life extension solutions including antioxidants, aroma ingredients and performance chemicals.
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