Thursday , October 21 2021

Fineotex Chemical zooms on entering into strategic collaboration with Eurodye-CTC

Fineotex Chemical is currently trading at Rs. 139.15, up by 14.65 points or 11.77% from its previous closing of Rs. 124.50 on the BSE.

The scrip opened at Rs. 131.00 and has touched a high and low of Rs. 146.10 and Rs. 131.00 respectively. So far 319509 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 2 has touched a 52 week high of Rs. 146.10 on 16-Sep-2021 and a 52 week low of Rs. 29.15 on 20-Oct-2020.

Last one week high and low of the scrip stood at Rs. 146.10 and Rs. 113.20 respectively. The current market cap of the company is Rs. 1569.86 crore.

The promoters holding in the company stood at 64.82%, while Institutions and Non-Institutions held 6.15% and 29.03% respectively.

Fineotex Chemical has entered into a strategic collaboration with Eurodye-CTC, Belgium, to commercialize specialty chemicals for the Indian market. With this exclusive tie-up for the Indian region, Fineotex will add to its portfolio specialised pre-treatment and dyeing products for the cotton-synthetic and woollen fibre / fabric / yarn along with the existing Indian business operation of Eurodye-CTC with several well known corporate accounts for their very specialised products. Eurodye-CTC as a partner brings to the table cutting-edge and specialized insight from the European perspective, due to their deep four-decade-long experience in research and development.

The exclusive collaboration will facilitate an efficient production system and distribution network across the Indian textile market. Additionally, the collaboration includes technology transfers apart from channelizing Eurodye-CTC’s existing business through Fineotex, under this synergy. Eurodye-CTC, at its end, will capitalize on Fineotex’ special technical services for its existing customers too.

Fineotex Chemical manufactures specialty chemicals consumed by textile and garment industry, leather, construction, adhesives paper, water treatment, agrochemicals, paint and other industries.

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