Indo Count hits 21-month high, rallies 12% on hopes of strong earnings

Growth in home textiles in India seems quite positive in coming years, driven by healthy export demand with benefits from reciprocal FTAs (free trade agreements).

Shares of Indo Count Industries (ICIL) hit 21-month high at Rs 269.75, as they rallied 12 per cent on the BSE in Friday’s intra-day trade on the back of heavy volumes amid expectations of strong earnings. The stock price of the largest global Home Textile bed linen manufacturer was trading at its highest level since January 2022. It had hit a record high of Rs 315 on October 11, 2021.

The average trading volumes at the counter jumped over four-fold today. A combined 3.66 million equity shares representing 1.8 per cent of total equity of ICIL changed hands on