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68 thousand rupees investor became a millionaire, brokers still see strength in this share.

New Delhi. Chemical sector major Finotex Chemical has given multi-bagger returns to investors over the long term. The investor who invested 68 thousand rupees in this share 11 years ago has also become a millionaire. The share price of Finotex Chemicals was just Rs 2.26 on 14 November 2013. It is now at Rs 352 with a gain of 14661%. Results for the second quarter (July-September 2024) of the current financial year 2024-25 were mixed. Nevertheless, brokerage firm KR Choksi has maintained a buy rating on the stock. The stock is currently trading 27% below its record high. Brokerages are calling the current decline an excellent buying opportunity.

Brokerage firm KR Choksi says the quarterly results have been in line with expectations. However, the target price has been reduced to Rs 476 from Rs 529, considering the volume growth challenges. The firm is confident in the company’s long-term growth prospects and advises investors to view the decline as a buying opportunity.

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Made investors millionaires in 11 years.
Shares of Finotex Chemicals were just Rs 2.26 on November 14, 2013 and have now risen 14661% to Rs 350. If an investor had invested only 68 thousand rupees in this share 11 years ago and is still investing, today his investment value has increased to 1 crore rupees. Similarly, an investment of Rs 1 lakh in this multi-bagger share 11 years ago has now increased to Rs 15,486,725. In February 2024, the share touched an all-time high of Rs 458. But it then fell 33 percent in four months to hit a low of Rs 305.20 in June 2024. Currently. This is 27 percent below the record high.

Results for the September quarter were mixed.
In the September quarter, Finotex Chemical posted revenue of Rs 145.7 crore, up 2 percent on a quarter-on-quarter basis but almost flat on a year-on-year basis. At the same time, gross margin declined by 0.36 percent quarter-on-quarter to 38.22 percent and EBITDA margin declined by 1.33 percent quarter-on-quarter to 25 percent.

(Disclaimer: The stock mentioned here is based on the advice of the brokerage houses. If you want to invest in any of them, consult a certified investment advisor first. News 18 of any profit or loss you make. will not be responsible).

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