Fineotex Chemical soars on unveiling new product

25 Oct 2017

Fineotex Chemical is currently trading at Rs. 35.75, up by 0.80 points or 2.29% from its previous closing of Rs. 34.95 on the BSE.

The scrip opened at Rs. 35.75 and has touched a high and low of Rs. 36.10 and Rs. 34.90 respectively. So far 122201 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 41.70 on 25-Apr-2017 and a 52 week low of Rs. 23.50 on 30-Aug-2017.

Last one week high and low of the scrip stood at Rs. 37.40 and Rs. 34.60 respectively. The current market cap of the company is Rs. 400.68 crore.

The promoters holding in the company stood at 72.36%, while institutions and non-institutions held 0.05% and 27.59% respectively.

Fineotex Chemical along with its Malaysian Subsidiary BT Biotex Sdn Bhd has launched its new product called Aquastrike VCF: The Ecofriendly, nontoxic solution for Mosquito outbreak in several countries.

Aquastrike is approved by Ministry of Health in Malaysia and declared as Non-Pesticide by the Pesticide Board and allowed to use freely by consumers. The Singapore PUB (Public Utility Board) has approved it and even has the EU approval for shipment to Europe. NSF had also confirmed its Non Toxicity even in drinkable water. The Vietnam and Cambodia bodies have also approved and soon it will be under WHO registration application. The Patent for the same has been filed in Malaysia as well.

The application for approval has been done in the Central Inspection Board of India (CIES) and to the Prime Minister Office for the Swachh Bharat Abhiyan as this will be helpful to break the mosquito lifecycle and also preserve the aquatic life in the water and keep the water free of insecticides and other harmful substance which affects human health.

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Fineotex Chemical Share Price

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