Camlin Fine Sciences opened at its 10% UC of the day at Rs.53.35, where it currently stays locked. Over 78k pending buy bids remained on the counter.
The stock price hit the roof on news that Infinity Investment Management, is investing up to Rs180 crore in the company.
This investment is via a subscription to equity warrants and will result in an approximately 22.65% ownership stake on a fully diluted basis.
Meanwhile, the company for Q4FY20, posted a 63% (YoY) decline in net profit at Rs.3 crore while net sales were up 9% at Rs.293 crore.
The company is engaged in the manufacturing of antioxidants and aroma chemicals supplying the food industry globally, with factories in India, Italy, Mexico, China and Brazil.