153% return in 2 years: This chemical stock hits lifetime high – Here’s Why

The shares of Fineotex Chemical hit lifetime on Friday i.e. February 16, 2024. The counter opened at Rs 415.65 and touched an intraday high of Rs 449.65. This is a surge of 10.32 per cent from the previous close of Rs 407.60.

The stock has been gaining for the last 8 days and the latest surge comes as the company has informed exchanges that its net profit has jumped 46.5 per cent year-on-year (YoY) to Rs 32.9 crore in the December quarter of FY24. 

Also, the board has declared a 60 per cent interim dividend. 

On technical parameters, the scrip is trading higher than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages. Shares of Fineotex Chemical, which has a market cap of Rs 4,908 crore, has a 52-week high of Rs 449.65 and a 52-week low of Rs 208.45.

According to the information available on the BSE, the counter has given a positive return of 153.74 per cent in the last two years. In the last three years, the counter has made investors wealthier by over 500 per cent. 

Meanwhile, the company has reported a 26.75 per cent YoY increase in operational revenue from Rs 1,092.3 crore to Rs 1,384.5 crore. 

The smallcap company has reported PAT (Profit After Tax) for the quarter ended has increased to Rs 329.25 crore from Rs 224.75 crore i.e., a growth of 46.49 per cent.