Fineotex Chemical Lt is involved in the business activities of Manufacture of chemical products or preparations of a kind used in the textiles, paper, leather and like industries.
The stock has broken a multi year resistance with great volume. The company is debt free and has a strong balance sheet enabling it to report stable earnings growth across business cycles. The Company has reported a robust sales number in its last quarter results for FY 21 with an increase(%) of 72% QoQ. EPS has also improved dramatically by 277% QoQ.
Mutual Funds have shown their interest & added this stock in their portfolio for the first time in the 3rd Quarter of FY 21 by buying an stake of 5.97%. This stake has also improved in the last quarter of FY 21 and now stands at 6.15%. Rise in interest is a good sign for the stock.
The Stock has a potential of turning a Multibagger.
Accumulate with SL of 59 for targets of 90-106 respectively. I would further recommend to hold it for 3-5 years for 10-15 times return.
Nice analysis. Both fundamental as well as technical reasons given. Thanks a lot.
mastermukund4
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@suitableCardin50398, Its always a pleasure to get such comments. Thank you so much.
Plse do go through my other posts and do share your feedback. Feedback is valuable for me
mastermukund4
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Don't Miss, Ready to fly
shubh1818
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I think it may give breakout in coming week due to long consodilation
mastermukund4
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@shubh1818, It has already broken out of a major resistance. However, if u look at daily chart you may find a resistance, as rightly mentioned by you. But we are looking it from long term perspective and therefore it is a buy at lower levels. You may add it now or wait for breakout on daily charts.
You may also find my other posts useful. Do spare some time to look into it.
shubh1818
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@mastermukund4 Yeah sure but I want it for swing trade so where should I enter and exit