Ashish Kacholia stock: Ace investor picks around 2% stake in this multibagger Fineotex Chemical; scrip hits new life high

Ace investor Ashish Kacholia has made a fresh entry into this small-cap chemical stock Fineotex Chemical – by picking up around 2 per cent stake in the company. This multi-bagger counter has reported almost 200 per cent growth in the last year, as per the BSE chart.  

According to the March 2022 shareholding pattern of the company available on the BSE, Kacholia has bought 20,42,534 equity shares, which aggregates to a 1.84 per cent stake in the company. The stock on Tuesday hit a new life high of Rs 198.1 apiece, after surging 2 per cent on the BSE intraday. 

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In the last month, the counter has reported a growth of over 30 per cent on the BSE as compared to over 14 per cent rise in the S&P BSE Sensex and it grew by almost 47 per cent in the last 6 months as against nearly 1 per cent rise in the benchmark index. 

Fineotex Chemical is a Mumbai-based speciality chemical company, engaged in the manufacturing of speciality chemicals and enzymes for the textile and garment industry, water treatment industry, leather industry, construction industry, paint industry, agrochemicals, adhesives, and others. 

According to Abhishek Navalgund Research Analyst of Nirmal Bang, “India Specialty Chemicals sector has been a clear outperformer over the last 3-4 years in terms of earnings delivery and future growth prospects are also promising on the back of accelerated capex.” 

Themes like ‘China+1’ and ‘import substitution’ are very much relevant in select pockets and we see respective companies reaping the benefits of the same, Navalgund added in his report.  

Ashish Kacholia, who is fondly called as Big Whale of the Indian stock market, publicly holds around 35 stocks with a net worth of over Rs 2,086.7 crore, as per the stock analysis website trendlyne.com.  

Meanwhile, the renowned investor has likely trimmed his holding below 1 per cent in Krishna Institute of Medical Science, as the shareholding pattern of the company doesn’t show his name. The stock since its listing last July has registered a growth of around 43 per cent on the BSE.