Indo Count Industries extends losses

Mumbai: Indo Count Industries has extended its losses during post lunch-hours on Friday. The stock in the morning session was down between 5-6% on BSE, while the stock witnessed a steep fall of over 14% losing over Rs 19.30 per share in the post lunch hours.

Mumbai: Indo Count Industries has extended its losses during post lunch-hours on Friday. The stock in the morning session was down between 5-6% on BSE, while the stock witnessed a steep fall of over 14% losing over Rs 19.30 per share in the post lunch hours.

The stock traded on a new 52-week low value of 107.35 per share on BSE. The stock also breached its lower circuit of Rs 119.65 per share. The company has profit growth of 79.72% over 5 years and a return on equity of 44.40% for 3 years. The stock on yearly basis has lost 87.05% and has underperformed BSE Small-cap index and BSE 500 index.

Indo Count Industries is an India-based home textile company engaged in the activity of manufacture of textile products. The company is involved in the manufacture of bedding, quilts, pillows, sleeping bags and others, and preparation and spinning of cotton fibers, including blended cotton.

Stock view:

Indo Count Industries Ltd is currently trading at Rs 116.5, down by Rs 16.4 or 12.34% from its previous closing of Rs 132.9 on the BSE.

The scrip opened at Rs 129 and has touched a high and low of Rs 134 and Rs 107.35 respectively. So far 7617920(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 2623.44 crore.

The BSE group ‘A’ stock of face value Rs 2 has touched a 52 week high of Rs 209.9 on 03-May-2017 and a 52 week low of Rs 127 on 10-Aug-2017. Last one week high and low of the scrip stood at Rs 148.9 and Rs 127 respectively.

The promoters holding in the company stood at 58.94 % while Institutions and Non-Institutions held 18.96 % and 22.1 % respectively.