Fine Organic surges 11% in a weak market on robust revenue growth outlook

Shares of Fine Organic Industries surged 11 per cent to Rs 1,788 on the BSE on Wednesday in an otherwise weak market on a healthy outlook for revenue growth. The stock of the specialty chemicals firm was trading at its highest level since its listing in July 2018. Since then, it has more than doubled from its issue price of Rs 783 per share.

In the past one month, the stock has outperformed the market by surging 26 per cent, after the company started operations at its new manufacturing facility (third Ambernath) situated at Additional Ambernath Industrial Area, Maharashtra.

In Q2FY20, the