FCL

hemical shares jump 6% on US specialty oilfield chemicals acquisition announcement

Fineotex Chemical Share Price: Shares of specialty chemicals company Fineotex Chemical today (December 5) jumped more than 6 per cent after the firm announced the acquisition of a US-based specialty oilfield chemicals group. The BSE Smallcap stock made an intraday high of Rs 26.01, up 8.51 per cent, before closing 6.01 per cent higher at Rs 25.45 on NSE. The buying interest came after the company, in a regulatory filing, said it will acquire CrudeChem Technologies Group through its subsidiary. CrudeChem is specialty chemical manufacturer based out of the US. It supplies advanced chemical fluid additives and oilfield chemical solutions to the global oil and gas industry