SYNOPSIS:

Fineotex, via its subsidiary, is acquiring majority stakes in four U.S. specialty chemical firms, strengthening its oilfield chemicals presence and targeting a $200-million business amid strong North American market growth.

During Friday’s trading session, shares of a global leader in specialty performance chemicals, serving the textile, water treatment, oil & gas, home care, and allied industries, surged nearly 8 percent on stock exchanges, following around Rs. 101 crore strategic acquisitions to expand business in the specialty chemical sector.

At 03:27 p.m., the shares of Fineotex Chemical Limited were trading in the green at Rs. 25.48 on BSE, up by around 6.3 percent, as against its previous closing price of Rs. 23.98, with a market cap of Rs. 2,919.4 crores.

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