Indo Count rallies 7%, hits record high on strong earnings growth prospects

Sunidhi Securities & Finance has initiated coverage on ICIL with a 'BUY' rating and a one-year price target of Rs 524

Shares of Indo Count Industries (ICIL) hit a record high of Rs 327.15 as they rallied 7 per cent on the BSE in Friday's intraday trade, amid heavy volumes, on hopes of strong earnings growth. The stock of the world's largest bed-linen player surpassed its previous high of Rs 319.50 touched on December 5, 2023.

At 12:19 PM, ICIL was quoting 6.6 per cent higher at Rs 325.50 as compared to a marginal 0.07 per cent gain in the S&P BSE Sensex. Average trading volume on the counter more-than-doubled today with a combined 3.3 million equity shares having changed hands on