Camlin Fine Sciences shines on getting nod to acquire additional 35% stake in subsidiary company

09 Feb 2021 Evaluate

Camlin Fine Sciences is currently trading at Rs. 114.70, up by 6.15 points or 5.67% from its previous closing of Rs. 108.55 on the BSE.

The scrip opened at Rs. 114.00 and has touched a high and low of Rs. 116.35 and Rs. 113.00 respectively. So far 96706 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 133.70 on 07-Dec-2020 and a 52 week low of Rs. 33.40 on 25-Mar-2020.

Last one week high and low of the scrip stood at Rs. 116.35 and Rs. 105.10 respectively. The current market cap of the company is Rs. 1452.69 crore.

The promoters holding in the company stood at 21.63%, while Institutions and Non-Institutions held 22.04% and 56.33% respectively.

Camlin Fine Sciences has received approval from board of directors for acquisition of 35% stake in its subsidiary namely, Dresen Quimica SAPI de CV (Dresen) from Controladora De Servicios Riso S.A.P.I. de C.V. (the joint venture partner) for  an amount not exceeding $13 million, subject to regulatory  approvals,  if  necessary  and  execution  of  definitive  agreement  by  the  Company  with  the  joint  venture partner.

Dresen is a joint venture between the Company and Controladora De Servicios Riso S.A.P.I. de C.V. in which the Company currently holds 65% stake.   Post  completion  of  the  said  acquisition, Dresen  will  become  a  wholly?owned  subsidiary  of  the  Company.

Camlin Fine Sciences is the world's second largest manufacturer and marketer of food grade antioxidants BHA (butylated hydroxyanisole) and TBHQ (Tertiary Butylhydroquinone).

Camlin Fine Sciences Share Price

89.25 -5.75 (-6.05%)
28-Mar-2024 16:01 View Price Chart
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