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Fineotex Chemical surges on completing formalities to acquire another plant premises

30 Aug 2019

Fineotex Chemical is currently trading at Rs. 24.50, up by 0.30 points or 1.24% from its previous closing of Rs. 24.20 on the BSE.

The scrip opened at Rs. 24.35 and has touched a high and low of Rs. 24.85 and Rs. 24.30 respectively. So far 8455 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 50.95 on 30-Aug-2018 and a 52 week low of Rs. 21.65 on 06-Aug-2019.

Last one week high and low of the scrip stood at Rs. 26.90 and Rs. 23.45 respectively. The current market cap of the company is Rs. 273.24 crore.

The promoters holding in the company stood at 71.42%, while Institutions and Non-Institutions held 0.13% and 28.44% respectively.

Fineotex Chemical has completed all legal formalities such as registration, transfer etc to acquire another factory/plant premises near its existing plants for the purpose of serving the increase in the need of production and storage capacity in view of the growing business volumes.

The said premises has been taken in possession of Fineotex. The factory/plant premises acquired is located at Mahape TTC Industrial Area. This is in addition to the factory/plot premises acquired in June, 2018 hearing address Mahape TTC Industrial Area.

Fineotex Chemical is engaged in the manufacturing of Specialty Chemicals and Enzymes for various industries .The company manufactures and trade in Specialty Chemicals and Enzymes for Textile & Garment Industry, Construction Industry, Leather Industry, Water Treatment Industry, Paint Industry Agrochemicals, Adhesives and others.

Related Fineotex Chemical Ltd. Links:

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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