Ashish Kacholia portfolio: Dividend stock Fineotex Chemical hits lifetime high after Q3 results 2024
Ashish Kacholia portfolio: Fineotex Chemical shares have been on an uptrend for the last one week. However, it seems that the chemical stock still possesses some upside potential.
In early morning deals on Thursday, Fineotex Chemical share price opened upside and went on to touch an intraday high of ₹421.30 apiece on NSE, which turned out a new lifetime high for this Ashish Kacholia-backed chemical stock. On Wednesday, this Ashish Kacholia portfolio stock declared robust Q3 numbers for the current financial year.
In Q3FY24, Fineotex Chemical Ltd reported a 26.75 percent YoY increase in operational revenue from ₹1,092.3 crore to ₹ ₹1,384.5 crore. The company's Operational EBITDA for the quarter has increased to ₹403.5 crore from ₹285.5 crore i.e., a growth of 41.34 percent.
Fineotex Chemical Ltd reported PAT (Profit After Tax) for the quarter ended has increased to ₹329.25 crore from ₹224.75 crore i.e., a growth of 46.49 percent. The board of directors of the chemical company also declared a 60 percent interim dividend on Wednesday While considering the unaudited financial results for the third quarter of the current fiscal.
Also Read: Vibhor Steel Tubes IPO: GMP jumps on strong subscription status. Apply or not? Ashish Kacholia-backed dividend stock informed Indian stock market bourses about the interim dividend saying, "Pursuant to Regulation 30 read with Schedule III and 33 of SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015, we wish to inform you that the meeting of the Board of Directors held on 14th February 2024, which commenced at 4.30 PM and concluded at 6.40 PM has inter-alia declared an Interim Dividend of 60% i.e; ₹1.20/- per equity share (face value ₹2 each) aggregating to ₹13.29
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