Ashish Kacholia maintains stake in this small-cap chemical stock during Q2FY25. Do you own?

Ashish Kacholia Portfolio Stocks: Ace investor Ashish Kacholia retained his holding in the smallcap chemical company Fineotex Chemical, a leading textile chemicals manufacturer, during the September quarter of the financial year 2024-25 (Q2FY25), suggesting his confidence in the stock.

Ashish Kacholia, also referred to as the ‘Big Whale’ on Dalal Street and known for his knack for picking smallcap gems, held 31,35,568 shares at the end of the September quarter. At the end of the June quarter too, Kacholia held 31,35,568 shares of Fineotex Chemical, suggesting no change in stake.

According to Trendlyne date, Ashish Kacholia publicly holds 42 stocks with a net worth of over ₹2,947.8 crore.

Foreign investors raised their stake in the company substantially from 0.93% (10,33,808 shares) at the end of the June quarter to 3.28% (37,56,906 shares) as of the September 2024 quarter. The stock is also popular among retail investors, with 124717 individuals holding the stock as of Q2FY25.

Stock Price Performance

The stock has seen a lacklustre performance so far in the ongoing calendar year, with just a 3 per cent rise. In the past one year, too, Finotex Chemical stock has risen 11.5 per cent. The stock hit its 52-week high of ₹458 on the BSE on February 19, 2024, whereas it scaled its 52-week low of ₹305.20 on June 4.

Fineotex Chemical share price was trading nearly 4 per cent lower on the BSE at ₹358 today amid a sharp selloff in mid-caps and small-caps as valuation concerns linger, especially in the light of weak corporate earnings.

Today’s fall comes despite a rating upgrade by ICRA to positive from stable. ICRA’s Rating Committee revised the Long Term - Fund Based - Cash Credit and Long Term / Short Term - Unallocated outlook to Positive from Stable, the company informed in an exchange filing on Tuesday, November 12.

“Outlook on the about Long Term fund basis and Long Term / Short term improvement from Stable to Positive means FCL's creditworthiness is poised to remain strong, supported by anticipated growth in cash accruals resulting from the expansion of operations and the maintenance of healthy profit margins,” ICRA said.

Apart from this, the company’s board is slated to meet later in the day to consider and approve the financial results for the quarter ended September 2024.

Fineotex is a leading maker of chemicals used in industries like textiles, construction, water treatment, fertilisers, leather, and paint. They provide a full range of products for every stage of textile processing, including pretreatment, dyeing, printing, and finishing. The company has a strong global presence across 33 countries.

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