Indo Count Industries shines on acquiring 82.5% stake in ICRVPL

24 Aug 2016

Indo Count Industries is currently trading at Rs. 854.50, up by 60.35 points or 7.60% from its previous closing of Rs. 794.15 on the BSE.

The scrip opened at Rs. 800.00 and has touched a high and low of Rs. 870.00 and Rs. 780.10 respectively. So far 194315 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. 945.05 and Rs. 773.00 respectively. The current market cap of the company is Rs. 3403.17 crore.

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

In order to carry out retail business of Home Textiles, Indo Count Industries has acquired 82.5% stake in Indo Count Retail Ventures (ICRVPL) from Anil Kumar Jain, Promoter of ICIL. With this acquisition, ICRVPL became a subsidiary of Indo Count Industries with the effect from August 24, 2016.

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
Research Analyst - INH000000719

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