Ashish Kacholia portfolio: Experts give 'buy' tag to chemical stock Fineotex Chemical. Should you buy?
Ashish Kacholia portfolio: After climbing to a new peak of ₹458.85 apiece on NSE in the last week of February 2024, Fineotex Chemical share price has remained an ideal sell-on-rise stock of the Indian stock market. However, some experts believe that the Ashish Kacholia-owned stock can give sharp upside movement once it comes out of the base building mode. Market experts said that Ashish Kacholia's portfolio stock has recently given a fresh breakout on the chart pattern and it is looking bullish for the short to medium term.
They said that the company's fundamentals are also strong as the chemical company posted a 26 percent YoY rise in revenue in the October to December 2023 quarter. They said that the company's PAT and margins are also improving, which signals strong upside movement in the medium to long term. Also Read: Mukul Agrawal is bullish on this multibagger railway stock.
Do you own it? Highlighting the strong fundamentals of this Ashish Kacholia-owned stock, Karan Kamdar, Research Analyst at Deven Choksey said, "Fineotex Chemical Ltd witnessed a strong quarter, with standalone profits for 9MFY24 jumping 101%. As cotton prices hit lower levels, we expect the company to perform better in the coming quarters. The recent fundraising by the company for foreign opportunities might bring additional impetus to the company's growth prospects.
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