Foreign Institutional Investors (FIIs) bought 2,723,098 shares of Ashish Kacholia’s specialty chemical stock, resulting in a 6% increase. This led to a gain of Rs 6,114,576 in just one day
Ashish Kacholia’s stock – On Thursday, Fineotex Chemical Ltd (FCL) saw a significant increase in its shares, rising by 19.5 per share or 6.3 per cent to Rs 330.50 per share from its intraday low of Rs 314.55 per share. The stock’s 52-week high is Rs 458, and its 52-week low is Rs 305.20. The company experienced a substantial increase in trading volume on the BSE, exceeding three times its usual volume.
Established in 1979, Fineotex Chemical Ltd is a prominent manufacturer of specialty chemicals catering to various industries. Their primary focus is on textile chemicals, with a strong emphasis on research and development through their subsidiary, Biotex Malaysia. In addition to textile chemicals, they also offer cleaning and hygiene products such as sanitizers and detergents. With a diverse product portfolio of over 470 categories, including chemicals for textile production, drilling fluids, and home care disinfectants, Fineotex serves clients globally, with a presence in more than 70 countries and a network of over 100 dealers, catering to major clients like Nahar Group and Raymond in the textile industry.
Renowned investor Ashish Kacholia holds a significant stake in the company, with 31,35,568 shares, representing 2.74 per cent ownership as of September 2024. Furthermore, in September 2024, Foreign Institutional Investors (FIIs) acquired 27,23,098 shares, increasing their stake to 3.28 per cent from 0.92 per cent in June 2024. In just one day, Ashish Kacholia gained Rs 6,11,43,576 from the rise in share price.
The company’s consolidated financial performance for the second quarter of FY25 (Q2FY25) demonstrates positive growth. Revenue from Operations increased by 2.70 per cent quarter-on-quarter (Q-o-Q) to approximately Rs 14,573 Lakh
FCL has reached a significant milestone by successfully raising Rs 218.11 crore through Preferential Allotment of Equity Shares and Convertible Warrants. This, along with a previous fundraising effort, brings the total funds raised in FY24 to Rs 342.55 crore. This financial achievement, combined with ICRA’s credit rating upgrade to [ICRA]A+ (Positive), underscores FCL’s strong financial position, operational performance, and growth potential. The company’s strategic diversification, global presence, and robust R&D capabilities position it for continued success. FCL’s dedication to innovation, sustainability, and financial responsibility has resulted in impressive financial metrics, including high profit margins and a strong demand pipeline.
With a market capitalization of Rs 3,700 crore, FCL boasts an ROE of 30 percent and an ROCE of 39 percent. The stock has risen by 8.3 percent from its 52-week low of Rs 305.20 per share and has delivered impressive returns of over 1,000 percent in the past 5 years.
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Disclaimer: This blog post is for informational purposes only and should not be considered financial advice. Investors should conduct thorough research and consult with a qualified financial advisor before making any investment decisions.