Fineotex Chemical up for 13 straight days; stock zooms 145%

The stock hit a new high of Rs 99.45, rallied 145% from Rs 40.65 on December 14, 2017, against 2% rise in Sensex.

Fineotex Chemical hit a new high of Rs 99.45, up 8%, extending its over 100% surge in past 12 trading days on the BSE.

The stock of specialty chemicals Company has zoomed 145% from Rs 40.65 on December 14, 2017, as compared to 2% rise in the S&P BSE Sensex.

Fineotex Chemical manufactures over 400 specialty chemicals and enzymes to textile, garment, construction, leather, water treatment, agrochemicals, adhesives and others industries.

Fineotex Chemical on October 25, 2017 announced that the company along with its Malaysian subsidiary BT Biotex Sdn Bhd had launched its new product called Aquastrike VCF - the ecofriendly, nontoxic solution for Mosquito outbreak in several countries.

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, Fineotex Chemical said in investor presentation December 2017.

“The company has also received positive recommendations from some of the broking companies which have also released research reports on Fineotex Chemical,” the company on Tuesday, January 2, 2018 said in a clarification with reference to increase in price.