Fineotex Chemical did well on Monday. The stock gained 1.49 percent in the last day and is currently trading at Rs 91.80 on the NSE. It’s a Rs 1,000 crore market cap company.

The trading volumes on the National Stock Exchange (NSE) were 5 times higher than what is seen in the last 10 days and even in terms of delivery, it was close to 3 times what is normally seen. Therefore, the stock moved higher on rather good volumes.

The other factor is that the stock ended at its 20-day moving average (DMA). So, it crossed the 50 DMA, it crossed the 20 DMA; in fact, the stock hit a 52 week high a couple of months ago and from there it saw a correction and now the stock has been moving well.

Watch the accompanying video of CNBC-TV18’s Nigel Dsouza for more details.

(Edited by : Dipika Ghosh)