Indo Count Industries rose 0.77% to Rs 977 at 9:28 IST on BSE after the company said its US-based unit partnered UK-based Walker Greenback PLC for three of its lifestyle brands.
The announcement was made after market hours yesterday, 7 July 2016.Meanwhile, the BSE Sensex was down 65.95 points, or 0.23%, to 27,139.24.
On BSE, so far 1,019 shares were traded in the counter, compared with average daily volume of 12,514 shares in the past one quarter. The stock hit a high of Rs 988.95 and a low of Rs 976.50 so far during the day. The stock hit a record high of Rs 1,248.45 on 8 February 2016. The stock hit a 52-week low of Rs 696.25 on 9 July 2015. The stock had outperformed the market over the past 30 days till 7 July 2016, rising 4.77% compared with 0.67% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 1.18% as against Sensex's 10.24% rise.
The mid-cap company has an equity capital of Rs 39.48 crore. Face value per share is Rs 10.
Indo Count Industries announced that Indo Count Global, Inc, US announced a new licensing partnership with Walker Greenback PLC UK for three of its lifestyle brands viz. Sanderson, Harlequin and Scion. All three brands have a particularly strong presence in UK and Australia. Indo Count said it recognized a gap in the North American market for this type of aesthetic. Indo Count said it will be launching new ranges for all three lifestyle brands this September during New York Home Textile Market Week. Indo Count added that it is targeting major retailers in the US market for all the three brands.
Net profit of Indo Count Industries rose 135.39% to Rs 65.98 crore on 14.02% rise in net sales to Rs 506.83 crore in Q4 March 2016 over Q4 March 2015.
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Indo Count is a specialized end-to-end bedding provider. The company makes bed sheet sets, pillow cases, duvet covers, bed skirts, comforters and window covering, etc.
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