Camlin Fine Chemicals firms on signing overseas joint venture agreement

Camlin Fine Chemicals firms on signing overseas joint venture agreement

Camlin Fine Chemicals rose 0.30% to Rs 50.50 at 11:58 IST on BSE after it signed joint venture agreement with Advanced Aerospace Technologies, USA for manufacturing and marketing specialty fine chemicals in European and US markets.

The company made this announcement after trading hours on Tuesday, 12 February 2008.

Meanwhile, BSE Sensex was up 370.44 points or 2.23% to 16,978.45.

The counter saw thin volumes of 600 shares on BSE. The scrip had an average daily volume of 15,370 shares in the past one quarter.

The stock hit a high of Rs 50.55 and a low of Rs 50.50 so far during the day. The stock had a 52-week high of Rs 88.10 on 27 December 2007 and a 52-week low of Rs 40 on 7 September 2007.

The small-cap scrip had outperformed the market over the past one month till 12 February 2008, declining 11.41% compared to the Sensex’s decline of 19.88%. It had also outperformed the market in the past one quarter, gaining 9.43% compared to Sensex’s decline of 16.66%.

The company’s current equity is Rs 4.85 crore. Face value per share is Rs 10.

The current price of Rs 50.50 discounts its Q3 December 2007 annualized EPS of Rs 6.69, by a PE multiple of 7.55.

Camlin Fine Chemicals’ net profit rose 94% to Rs 0.97 crore on 22.8% growth in net sales to Rs 20.63 in Q3 December 2007 over Q3 December 2006.

The company is engaged in developing, manufacturing and distribution of consumer products, pharmaceutical formulations, bulk drugs and fine chemicals.