Ashish Kacholia's Portfolio Stock Fineotex Chemical Approves 28.15 Lakh Convertible Warrants

The shares of Fineotex Chemical Limited, which is part of Ashish Kacholia's portfolio and has given a bumper return of 1516 per cent to the stock market investors from the low level of Rs 23 on 16 January 2015, were showing slight weakness in Friday afternoon trading and were trading at the level of 381 rupees. The shares of Fineotex Chemical were at the low level of Rs 35 on 28 June 2019 from where the investors got a return of 987 percent. Fineotex Chemical Limited issued shares to the promoter and non-promoter category investors after warrant conversion, which has been approved in the AGM.

In the last 1 year, the stock of Fineotex Chemical has given investors a return of 25 per cent from the level of Rs 305. Fineotex Chemical is a speciality chemical company included in the portfolio of Ashish Kacholia. Fineotex Chemical had issued shares to the promoter and non-promoter category investors after warrant conversion, which had to be approved in the AGM. Fineotex Chemical has informed the stock market that the company's Extraordinary General Meeting was held on Thursday, June 27. In this meeting, Fineotex Chemical Limited has approved the issuance of 28.15 lakh convertible warrants. These warrants were issued to the non-promoter category investors on a preferential basis.

Ashish Kacholia has made a big investment in the shares of Fineotex Chemical Ltd by having a 2.83 per cent stake in Fineotex Chemical Company.

According to KR Chowksi Research, shares of Fineotex Chemical Limited are currently available for buy with a target price of Rs 575. According to KR Choksi Research, Fineotex Chemical Limited's EBITDA margin rose to 26% during the last fiscal year.

A while back the company had been in advanced talks with a specialty chemical manufacturer for a potential buying, according to Fineotex Chemical Ltd.'s latest exchange report. The strategic alignment between Fineotex's existing operations and the target company's product range and client base should instill confidence in the company's growth strategy. The company reaffirmed that talks and due diligence are still in progress, highlighting their dedication to increasing stakeholder value and pursuing both organic and inorganic development.

Fineotex Chemical is a manufacturer of speciality chemicals used in adhesives, paint, agrochemicals, textiles, hygiene, home care, mining, clothing, and water treatment, among other sectors. Fineotex Chemical Limited is one of the leading manufacturers of more than 450 speciality chemicals and enzymes. For the whole range of products, it uses state-of-the-art production facilities in Navi Mumbai, India, and Selangor, Malaysia.