Meanwhile, the BSE Sensex was up 465.52 points, or 1.96%, to 24,244.87.

On BSE, so far 3,900 shares were traded in the counter, compared with an average volume of 4,577 shares in the past one quarter. The stock hit a high of Rs 518.50 and a low of Rs 488 so far during the day. The stock hit a record high of Rs 861 on 23 December 2015. The stock hit a 52-week low of Rs 276.20 on 23 March 2015. The stock had underperformed the market over the past one month till 1 March 2016, sliding 31.34% compared with 4.21% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 31.34% as against Sensex's 9.13% fall.

The small-cap company has an equity capital of Rs 11.74 crore. Face value per share is Rs 10.

Proquima supplies chemicals to Arrow Coated Products' KlenzPro brand of cleaning products. Proquima also supplies to Careli SA, which has a strategic agreement with Arrow Coated Products for water soluble film-based capsule packs.

This collaboration opens doors for the niche market aiming at Clean India campaigns by production of cleaning chemicals and activities under "Make in India” program, the company said in a statement.

On a consolidated basis, net profit of Arrow Coated Products declined 9.83% to Rs 7.06 crore on 1.30% rise in net sales to Rs 13.26 crore in Q3 December 2015 over Q3 December 2014.

Arrow Coated Products is engaged in manufacturing self-adhesive vinyls, media for large format printing machines, thermal transfer ribbons for bar-coding and bio-degradable water soluble film.