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Business News/ Markets / Stock Markets/  Ashish Kacholia portfolio: Dividend stock Fineotex Chemical hits lifetime high after Q3 results 2024
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Ashish Kacholia portfolio: Dividend stock Fineotex Chemical hits lifetime high after Q3 results 2024

Ashish Kacholia portfolio: The board of directors of the chemical company also declared ₹1.20 per share interim dividend for eligible shareholders

Ashish Kacholia portfolio: The board of directors of Fineotex Chemical has fixed 12th March 2024 as record date for interim dividend.Premium
Ashish Kacholia portfolio: The board of directors of Fineotex Chemical has fixed 12th March 2024 as record date for interim dividend.

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.

Fineotex Chemical Q3 results 2024

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.

Fineotex Chemical Dividend 2024

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.

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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 Crores. The record date will be February 26, 2024 and the dividend will be paid on or before March 12,2024."

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Ashish Kacholia's shareholding in Fineotex chemical

According to the shareholding pattern of Fineotex Chemical Ltd for the October to December 2023 quarter, the ace investor owns 31,35,568 company shares, which is 2.83 percent of the total paid-up capital of the company. In the July to September 2023 quarter, Ashish Kacholia was holding the same 31,35,568 Fineotex Chemical shares. This means the ace investor has remained steady in this chemical stock during Q3FY24.

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Asit Manohar
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Published: 15 Feb 2024, 10:17 AM IST
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