Meanwhile, the S&P BSE Sensex was up 63.99 points, or 0.2%, to 32,222.65. The S&P BSE Mid-Cap index was up 81.97 points, or 0.51%, to 16,119.06.

On the BSE, 2,209 shares were traded in the counter so far, compared with average daily volume of 20,761 shares in the past one quarter. The stock had hit a high of Rs 267.40 and a low of Rs 262 so far during the day. The stock had hit a record high of Rs 361.90 on 4 January 2017. The stock had hit a 52-week low of Rs 236.60 on 31 August 2017.

The stock had dropped 3.14% in three sessions to settle at Rs 257.35 yesterday, 12 September 2017, from a close of Rs 265.70 on 7 September 2017.

The stock had outperformed the market over the past one month till 12 September 2017, gaining 3.13% compared with the Sensex's 3.03% gains. The stock had, however, underperformed the market over the past one quarter, declining 11.09% as against the Sensex's 3.42% rise. The scrip had also underperformed the market over the past one year, dropping 14.76% as against the Sensex's 13.42% rise.

The mid-cap company has equity capital of Rs 144.62 crore. Face value per share is Rs 10.

VN Creative Chemicals (VNCC) is into the business of aromatic chemicals and has acquired MIDC leasehold land at Mahad in Maharashtra alongwith manufacturing facility constructed theron for Rs 13.59 crore. The purpose of acquisition is to acquire control of land and manufacturing facility owned by VNCC.

The investment is part of the earlier envisaged strategic cost saving initiative in the overseas fragrance division, which will allow the company greater flexibility in backend manufacturing operations and leverage its existing presence in a low cost and high quality centre like India.

The company expects to execute the initiative by end of this fiscal and showcase higher operational efficiency in the fragrance division from FY 2018-19 onwards. VNCC has been incorporated recently and is yet to commence business operations.

VNCC acquisition is targeted to close in September 2017. The acquisition would be acquiring 100% share capital at face value to be paid in cash. Requisite approvals and consents in connections with the acquisition have been obtained.

S H Kelkar and Company's consolidated net profit fell 2.5% to Rs 26.79 crore on 8.1% decline in net sales to Rs 233.92 crore in Q1 June 2017 over Q1 June 2016.

S H Kelkar and Company along with its subsidiaries is engaged in the manufacture, supply and exports of fragrances (including aroma ingredients) and flavours.