Ashish Kacholia Stock Fineotex Chemical Surged 10% In Last 5 Sessions; Here’s Why

Fineotex Chemical Limited has informed the stock market that an Extra Ordinary General Meeting of the company is being called on June 27. In this meeting of the company, approval will be taken on the shares issued to non-promoter investors. Shares were issued to these investors after warrant conversion by FCL. Ashish Kacholia has made a big investment in the shares of Fineotex Chemical. Ashish Kacholia, a veteran investor in the stock market, has a 2.83 per cent stake in this company.

Shares of small-cap specialty chemical company Fineotex Chemical Limited, invested by stock market veteran Ashish Kacholia, rose marginally in early trade on Wednesday and touched the level of Rs 390. Fineotex Chemical had issued shares to the promoter and non-promoter category investors after warrant conversion, which is to be approved in the AGM.

In the last 1 year, the shares of Fineotex Chemical have given a return of 35 percent to the investors from the low level of Rs 289, while the shares of Fineotex Chemical Limited have given a return of 1012 percent from the low level of Rs 35 on 28 June 2019. The shares of Fineotex Chemical have given a bumper return of 1552 percent to the investors from the level of Rs 23.60 on 16 June 2015.

Recently, KR Choksi Research has said that shares of Fineotex Chemical Limited can be bought for a target of Rs 575. KR Choksi Research has said that the EBITDA margin of Fineotex Chemical Limited has increased to 26 percent in the last financial year. Shares of Fineotex Chemical were at the level of Rs 35 on 28 June 2019, from where investors have got a bumper return of 1015 percent.

Fineotex Chemical Limited is a specialty chemical company with a market cap of Rs 4360 crore whose shares have a 52-week high of Rs 458 and a 52-week low of Rs 266. The shares of Fineotex Chemical Limited have given investors a return of 8 percent in the last 5 days while the stock has been trading almost flat in the last 6 months.

Recently, according to the latest exchange filing by Fineotex Chemical Ltd, the company is in advanced discussions with a speciality chemical manufacturing company for a potential acquisition. The target company's product portfolio and customer base align strategically with Fineotex's current operations, a factor that should inspire confidence in the company's growth strategy. The company reiterated that negotiations and due diligence are ongoing, underscoring their commitment to both organic and inorganic growth and enhancing stakeholder value.

Fineotex Chemical is a maker of specialised chemicals for a variety of industries, including adhesives, paint, agrochemicals, textiles, home care, hygiene, mining, apparel, and water treatment. One of the top producers of over 450 speciality chemicals and enzymes is Fineotex Chemical Limited. Its cutting-edge production facilities, which are located in Selangor, Malaysia, and Navi Mumbai, India, are in force for the whole spectrum of products.