Camlin Fine Sciences spurts 8% after Chinese unit resumes operations

The manufacturing facility of the company's subsidiary viz. CFS Wanglong Flavors (Ningbo) Company Limited located in Xiaocao's Town, Yuyao City, Zhejiang Province and its manufacturing facility has resumed operations from February 24, 2020.

Feb 25, 2020 07:02 IST India Infoline News Service

Shares of Camlin Fine Sciences extended rally in the afternoon session after its Chinese subsidiary has resumed operations from February 24, 2020.

The manufacturing facility of the company's subsidiary viz. CFS Wanglong Flavors (Ningbo) Company Limited located in Xiaocao's Town, Yuyao City, Zhejiang Province and its manufacturing facility has resumed operations from February 24, 2020.

The stock is currently trading at Rs72.60, up by Rs5.2 or 7.72% from its previous closing of Rs67.40 on the BSE.

“The company’s manufacturing facility -- CFS Wanglong Flavors (Ningbo) Company -- at Xiaocaos Town, Yuyao City, Zhejiang Province was shut down in January 2020 to effectively strengthen the prevention and control of pneumonia outbreaks of new coronavirus infections and prevent and control the epidemic. CFS Wanglong is a producer of vanillin,” the company said on Monday post market hours.

The company reported a consolidated net profit of Rs3.83cr in Q3FY20 as compared to a net loss of Rs0.79cr in Q3FY19.

The scrip opened at Rs69.10 and has touched a high and low of Rs74.10 and Rs69.10 respectively.

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