Ashish Kacholia multibagger stock: This specialty chemical company shares jump nearly 24% in a week, hits new high on Friday

Ashish Kacholia multibagger stock: Ace investor Ashish Kacholia-owned specialty chemical company – Fineotex Chemical shares jumped nearly 24 per cent in the last five trading sessions. The stock hit a record high of Rs 333 per share on the BSE intraday on Friday, it eventually closed at Rs 329.5 apiece, up over 6 per cent Friday.

The multibagger stock has gained around 54 per cent in the last one month, almost 114 per cent in the last six months and has reported a growth of almost 200 per cent in the previous year as per the charts shown on the BSE.

In June 2022 quarter, the renowned investor Ashish Kacholia picked up 0.1 per cent additional stakes in Fineotex Chemicals, taking the total holding to 1.9 per cent or 21,42,534 equity shares, as per the shareholding pattern of the company available on the BSE. 

Ashish Kacholia, who is fondly called as Big Whale of the Indian stock market, publicly holds 38 stocks with a net worth of over Rs 1,915.0 crore as of September 03, 2022, he has a varied portfolio that includes hospitality, education, infra, and manufacturing stocks, according to trendline.com.

In Q1FY23, Fineotex Chemicals’ consolidated profit after tax rose 110 per cent year-on-year (YoY) to Rs 20.3 crore and reported a 115 per cent YoY jump in its consolidated revenue at Rs 135.8 crore.

The company’s EBITDA (earnings before interest, taxes, depreciation, and amortization) grew 167 per cent YoY at Rs 26.20 crore., while the margin expanded 381 bps YoY to 19.3 per cent. 

Fineotex group is one of the leading manufacturers of chemicals for textiles, construction, water-treatment, fertilizer, leather and paint industry. It manufactures and provides entire range of products for Pretreatment Process, Dyeing Process, Printing Process among others across globe.

Fineotex Chemical was incorporated as a public limited company in 2007. It got listed on the Bombay Stock Exchange in March 2011 and on the National Stock Exchange in January 2015