FIIs Bought 25,65,049 Shares: Ashish Kacholia's Portfolio High ROE & High ROCE Multibagger Stock Is Close To Its 52-Week High Of Rs 458; Do You Own It?
The shares of the company saw a spurt in volume by more than 2 times on BSE.
Today, shares of Fineotex Chemical Ltd (FCL) gained 3.80 per cent to an intraday high of Rs 438.60 per share from its previous closing of Rs 380.65. The shares of the company saw a spurt in volume by more than 2 times on BSE.
An ace investor, Ashish Kacholia holds 31,35,568 shares or 2.74 per cent stake in the company as of July 2024. Additionally, in July 2024, FIIs bought 25,65,049 shares and increased their stake to 3.14 per cent compared to 0.92 per cent in June 2024.
Fineotex Chemical Ltd, founded in 1979, is a leading manufacturer of speciality chemicals for various industries. Their core business is textile chemicals, with a focus on research and development through their subsidiary Biotex Malaysia. They also offer cleaning and hygiene products like sanitisers and detergents. Fineotex boasts over 470 product categories, including chemicals for every stage of textile production, oil and water-based drilling fluids, and home care disinfectants. With a presence in over 70 countries and a network of over 100 dealers, they serve major clients like Nahar Group and Raymond in the textile industry.
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The company boasts a robust financial position with a market capitalization exceeding Rs 4,700 crore, coupled with a significant debt reduction. Over the past five years, the company has consistently demonstrated impressive profit growth, achieving a remarkable CAGR of 39.8 per cent. This positive trajectory is further evidenced by the strong financial performance exhibited in both the Quarterly Results (Q1FY25) and the annual results (FY24).
Notably, the company's ROCE reached 39 per cent and the ROE stood at 30 per cent for the same fiscal year, highlighting its efficient capital utilization and profitability. The stock is up by 56 per cent from its 52-week low of Rs 281.05 per share; gave multibagger returns of 1,600 per cent returns in 5 years and a whopping 4,050 per cent in a decade.
The stock traded at Rs 438.60, while its 52-week high was Rs 458. This means the stock is currently down by Rs 19.4 per share or 4.23 per cent. Is it possible for the stock to reach a new 52-week high above Rs 458 in the near future? Share your thoughts in the comments below.
Disclaimer: The article is for informational purposes only and not investment advice.