The one who invested Rs 68 thousand became a millionaire, brokerage is still looking strong, will you bet on this share?

New Delhi. Chemical sector giant Finotex Chemical has given multibagger returns to investors in the long term. The investor who invested Rs 68 thousand in this share 11 years ago has also become a millionaire. Shares of Finotex Chemical were priced at just Rs 2.26 on 14 November 2013. Now it is at Rs 352 with a rise of 14661%. The results for the second quarter (July-September 2024) of the current financial year 2024-25 were mixed. Despite this, brokerage firm KR Choksey has maintained its buy rating on this stock. At present this stock is trading 27 percent below its record high. Brokerages are calling the current decline a great buying opportunity.

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

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Made investors millionaires in 11 years
The shares of Finotex Chemical were at just Rs 2.26 on November 14, 2013, which have now reached Rs 350 with a rise of 14661%. If an investor had invested only Rs 68 thousand in this share 11 years ago and has remained invested till now, then today the value of his investment has increased to Rs 1 crore. Similarly, the Rs 1 lakh invested in this multibagger share 11 years ago has now increased to Rs 15,486,725. In February 2024, the share had touched a record high of Rs 458. But after this it slipped 33% in four months to reach a low of Rs 305.20 in June 2024. At present. This is 27% below the record high.

September quarter results were mixed
In the September quarter, Finotex Chemical achieved revenue of Rs 145.7 crore, which was 2 percent higher on a quarterly basis but remained almost flat on an annual basis. At the same time, gross margin fell by 0.36 percent on quarterly basis to 38.22 percent and EBITDA margin slipped by 1.33 percent on annual basis to 25 percent.

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Tags: Money Making Tips, Multibagger stock, stock market