Arrow Coated Products climbed on Wednesday after it entered into a supply co-operation agreement with Tsukioka Film Pharma Company for developing Edible Soluble Film strips containing active pharmaceutical ingredients, vaccines, neutraceuticals and other remedies taken together 'ODF products' for dosing by mouth or otherwise, as per Arrow's patented technology 'Embedded Water Soluble Film (WSF)'.

Relationship with Tsukioka is important for Arrow, as this will lead the MMS (mouth melting Strip division) into pharma, health and hygiene sector.

Shares of the company are trading at Rs 41, up Rs 1, or 2.50% at the Bombay Stock Exchange (BSE) on Wednesday at 2:26 p.m.

The scrip has touched an intra-day high of Rs 41 and low of Rs 38.75. The total volume of shares traded at the BSE is 7,118.

In the earlier session, the shares declined 3.5%, or Rs 1.45, at Rs 40. Currently, the stock is trading down 13.68% from its 52-week high of Rs 47.50 and above 403.69% over the 52-week low of Rs 8.14.