Camlin Fine Sciences Gains 1%, To Acquire 51% Stake In A Chineses Firm

Camlin Fine Sciences Ltd is currently trading at Rs 100, up by Rs 1.1 or 1.11% from its previous closing of Rs 98.9 on the BSE after the company has entered into a Share Purchase Agreement to acquire (either through itself or its subsidiaries/group companies) 51% stake in an entity in China, which shall be subject to certain conditions being fulfilled prior to the said acquisition and regulatory approvals.

The said acquisition can also be through the company’s subsidiaries and/or group companies. “We have entered into a share purchase agreement to acquire 51% stake in an entity in China. The acquisition is subject to RBI approval and expected to be completed on or before June 30 next year and cost of proposed acquisition will be disclosed after the completion...,” the company said in BSE filing.

The scrip opened at Rs 100 and has touched a high and low of Rs 103.1 and Rs 98.95 respectively. So far 330034 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 1021.23 crore.

The BSE group 'B' stock of face value Rs 1 has touched a 52 week high of Rs 119.6 on 26-Oct-2016 and a 52 week low of Rs 76.1 on 29-Feb-2016. Last one week high and low of the scrip stood at Rs 105 and Rs 96 respectively.

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