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IFB Industries rallies 57% in a month on healthy growth outlook

India Ratings and Research (Ind-Ra) recently affirmed IFB Industries' long-term issuer rating at 'IND AA-' with a stable outlook

IFB Industries rallies 57% in 1-month on healthy growth outlook
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Ind-Ra expects the company to achieve relatively higher revenue in the second half (October-March) of the financial year 2020-21 (2HFY21) than the April-September period (1HFY21).

SI Reporter Mumbai
Shares of IFB Industries hit a fresh 52-week high of Rs 1,218 on the BSE after it rallied 10 per cent in intraday trade on Tuesday on expectations of strong growth outlook. In the past one month, the stock has surged 57 per cent, as compared to a 8 per cent rise in the S&P BSE Sensex.

IFB Industries’ operations consist of three divisions -- fine blanking, appliances and motor. The company continues being a market leader in the domestic front load washing machines as well as the dishwasher market, with a share of 40 per cent each.

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First Published: Dec 29 2020 | 2:32 PM IST

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