Fineotex Chemical share at 52-week high after Nippon India Small Cap Fund buys 66 lakh shares

Alkyl Amines Chemicals Ltd.

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Fineotex Chemical share price jumped 10 percent in the morning session on December 29 after Nippon India Small Cap Fund bought shares of the company.

Nippon India Small Cap Fund bought 66,08,595 shares of the company at an average price of Rs 45.25 per share in a bulk deal.

Also, Tejas Tradefin LLP purchased 7,00,100 shares of the company at Rs 47.28 per share on BSE.

The stock was trading at Rs 59.45, up Rs 5.35, or 9.89 percent at 09:32 hours. It has touched a 52-week high of Rs 62.15.

According to Moneycontrol SWOT Analysis powered by Trendlyne, the stock is showing strong momentum: Price above short, medium and long term moving averages. The company has zero promoter pledge with Book Value per share improving for last 2 years

Moneycontrol technical rating is very bullish with moving averages and technical indicators being bullish.