Camlin Fine Sciences bags supply contract from Lockheed Martin

The stock of Camlin Fine Sciences was buzzing on the bourses during Wednesday's trade. The stock moved up more than 4 per cent on Wednesday.

The company announced that has signed a preferred supplier agreement with the American company, Lockheed Martin Advanced Energy Storage. The agreement is for the supply of speciality chemicals. Lockheed Martin Advanced Energy is an energy storage technology and renewable fuels company that develops flow battery systems.

Earlier, Camlin Fine Sciences had posted weak results with a consolidated net loss of Rs. 3.38 crore for the second quarter of 2017 compared to a net profit of Rs 0.75 crore in Q2FY16. The company's net sales were up 29.5 per cent at Rs. 144.21 crore in Q2FY17 compared to the corresponding period last year.

The stock of Camlin Fine Sciences closed at Rs. 93 per shares, up by 2.59 per cent on Wednesday. Meanwhile, the S&P BSE Sensex closed at 32,760.44 points, down by 0.55% or 181.43 points, whereas the Nifty50 index closed at 10,118.05 points, down 0.67 per cent or 68.55 points on Wednesday.