Ashish Kacholia’s portfolio stock, Fineotex Chemical, extended gains to the second straight session on Monday, November 3. The chemical stock hit the 20% upper circuit at ₹35.76, taking the two-day gains to 44%, after trading ex-record for its bonus issue and stock split.
Fineotex Chemical had announced a 1:1 stock split in the ratio of and a bonus share in the ratio of 4:1, for which it had fixed the record date as Friday, October 31, 2025.
Today, the company announced the allotment of the bonus shares.
The board has allotted 91,66,00,720 bonus equity shares of ₹1 fully paid-up, in the ratio of 4:1 for every one existing fully paid-up equity share of face value of Rs, held by the eligible equity shareholders of the company whose names appeared in the register of members.
To be eligible for the corporate actions, investors needed to buy Fineotex Chemical shares on or before Thursday, October 30, for their names to appear on the register of members as on the record date. Given the T+1 settlement mechanism of the Indian stock market, any shares bought after October 30 will reflect in the investors’ demat accounts after the record date.
According to Mint’s calculations, an investor having 50 shares of Fineotex Chemical before the record date will end up with 500 shares after the impact of the corporate actions comes into effect.
However, the value of their holdings will remain the same, as the stock split and bonus issue increase the number of shares but also reduce the price per share, making them more affordable for retail investors.
Fineotex Chemical share price trend
Fineotex Chemical share price opened slightly lower than its last close, but it soon jumped to the day’s high, thereby edging closer to the 52-week high of ₹38.42.
Despite this sharp surge, the small-cap stock, with a market capitalisation of ₹3,600 crore, has seen a 7% fall so far in 2025. In the last year, it has lost 15% of its value.
However, the Ashish Kacholia portfolio stock remains a multibagger, clocking 917% returns in five years and 1204% in 10 years.
Kacholia holds 30,00,568 shares of Fineotex Chemical as of the September quarter, representing a 2.62% stake in the company.
Fineotex Chemical: Technical outlook
Technically, the small-cap stock is signalling strong institutional accumulation, said Anshul Jain, Head of Research at Lakshmishree.
“FCL has finally breached the strong resistance of 28.92 on the weekly charts, confirming a higher-high, higher-low structure and signalling a shift in long-term momentum. The breakout is supported by a noticeable rise in volumes within the base, indicating strong institutional accumulation,” said Jain.
He added that as long as the stock sustains above 28.92, the bullish structure remains intact, and further upside toward 42 appears highly probable. The overall price action and volume behaviour suggest that this move marks the beginning of a new trend rather than a short-term rally, he opined.
Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.