FIIs Bought 27,23,098 Shares & Ashish Kacholia's Portfolio Gains Rs 6,27,11,360 In Just 1 Day: High ROE & High ROCE Multibagger Stock Jumps Over 5 Per Cent
The stock is up by 48 per cent from its 52-week low of Rs 281.05 per share; gave multibagger returns of 1,555 per cent returns in 5 years and a whopping 3,600 per cent in a decade.
On Monday, shares of Fineotex Chemical Ltd (FCL) gained 5.05 per cent to an intraday high of Rs 416 per share from its previous closing of Rs 396. The shares of the company saw a spurt in volume by more than 1.01 times.
An ace investor, Ashish Kacholia holds 31,35,568 shares or 2.74 per cent stake in the company as of September 2024. Additionally, in September 2024, FIIs bought 27,23,098 shares and increased their stake to 3.28 per cent compared to 0.92 per cent in June 2024. In just 1 day, Ashish Kacholia gains Rs 6,27,11,360 (31,35,568 shares x Rs 20 per share gained today).
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 48 per cent from its 52-week low of Rs 281.05 per share; gave multibagger returns of 1,555 per cent returns in 5 years and a whopping 3,600 per cent in a decade.
Disclaimer: The article is for informational purposes only and not investment advice.
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