Fineotex Chemical Ltd arm acquires additional factory land

Fineotex Chemical Ltd vide its subsidiary i.e. FSPL Specialities Private Limited (formerly known as Fineotex Specilities Private Limited), has acquired additional factory land premises located at Additional Ambernath, MIDC, Thane, Maharashtra admeasuring approx. 7 (Seven) Acres land for a total investment of approximately Rs. 35 (Thirty Five) Crores funded by Company's Internal Accruals. We have completed all legal formalities such as registration, transfer of the said factory/plant premises and the possession has been taken with effect from 29th December, 2023 onwards.

This plant will primarily cater to meet the customer growing demands in the existing Speciality performance chemical product line catering to Textile, Home Care, Cleaning, Hygiene and Drilling Speciality Chemicals.

The company will update about the commissioning of the stock commencement activity on the said plot.

Shares of Fineotex Chemical Limited was last trading in BSE at Rs. 361.55 as compared to the previous close of Rs. 369.10. The total number of shares traded during the day was 18539 in over 640 trades.

The stock hit an intraday high of Rs. 371.15 and intraday low of 360.00. The net turnover during the day was Rs. 6757100.00.

Source : Equity Bulls

Keywords

FineotexChemical INE045J01026 FSPLSpecialities Acquisition FactoryLand