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Indo Count Industries soars on eyeing 15-20% revenue growth in FY17

22 Aug 2016

Indo Count Industries is currently trading at Rs. 928.00, up by 18.70 points or 2.06% from its previous closing of Rs. 909.30 on the BSE.

The scrip opened at Rs. 910.00 and has touched a high and low of Rs. 940.60 and Rs. 905.10 respectively. So far 7253 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1248.45 on 08-Feb-2016 and a 52 week low of Rs. 720.00 on 08-Sep-2015.

Last one week high and low of the scrip stood at Rs. 940.60 and Rs. 878.60 respectively. The current market cap of the company is Rs. 3691.18 crore.

The promoters holding in the company stood at 58.95%, while institutions and non-institutions held 16.09% and 24.96% respectively.

Indo Count Industries (ICIL) is eyeing 15-20 percent growth in business on back of capacity expansion and strengthening business in the domestic market. The company, which gets 90 percent of its revenue from exports, is also looking at expanding export markets as well strengthening presence in other markets, including Australia, Japan, South Africa and the Middle East.

The company has three manufacturing units in Kolhapur in Maharashtra, is spending around Rs 475 crore in two phases on capacity expansion. The investment will be funded by internal accruals and debt.

Indo Count Industries is engaged in the manufacturing of 100% grey combed cotton yarn and knitted fabric. Its product range includes Cotton yarn, Knitted fabrics and Dyed yarn and core-spun yarn.

Related Indo Count Industries Ltd. Links:

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323