Camlin Fine Sciences zooms as its arm decides to acquire 65% stake in Dresen Quimica

03 Feb 2016 Evaluate

Camlin Fine Sciences is currently trading at Rs 101.05, up by 3.80 points or 3.91% from its previous closing of Rs 97.25 on the BSE.

The scrip opened at Rs. 95.60 and has touched a high and low of Rs. 102.00 and Rs. 95.60 respectively. So far 152380 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 128.80 on 29-Jun-2015 and a 52 week low of Rs. 78.50 on 25-Aug-2015.

Last one week high and low of the scrip stood at Rs. 102.00 and Rs. 94.50 respectively. The current market cap of the company is Rs. 972.94 crore.

The promoters holding in the company stood at 39.94% while Institutions and Non-Institutions held 1.62% and 58.43% respectively.

Camlin Fine Sciences' subsidiary CFS Antioxidantes De Mexico S.A. DE C.V, Mexico (CFS Mexico) has entered into a share Purchase Agreements to acquire 65% stake in an entity in Mexico along with its proposed group companies, which shall be subject to certain conditions being fulfilled prior to the said acquisition. The target entity Dresen Quimica S.A.P.l.de C.V., Mexico (Dresen) is a medium sized company which is proposed to be acquired with its group companies (a condition precedent) means the Mexican entity Industries Petrotec de Mexico, S.A. de C.V.; the Peruvian company Nuvel, S.A.C.; the Guatemalan company Sritec, S.A., the Colombian company lnovel, S.A.S. and the Dominican Republic company Grinel, S.A. After the said acquisition, the company may expand its market reach in the North, Central and South America.

Dresen has large products portfolio, having proper sales mix with relevant processes and equipments in operation besides adequate installed capacity for operations to support future growth. It markets its products through its own sales force directed from its headquarters and its branches and a network of distributors in North, Central and South America.Camlin Fine 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

119.95 0.80 (0.67%)
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