Buy Indo Count Industries, target price Rs 187: Axis Securities

Axis Securities has buy call on Indo Count Industries with a target price of Rs 187. The current market price of Indo Count Industries is Rs 158.3. Time period given by analyst is 4 weeks when Indo Count Industries Ltd. price can reach defined target.

Indo Count Industries Ltd., incorporated in the year 1988, is a Small Cap company (having a market cap of Rs 3126.81 Crore) operating in Textiles sector.

Indo Count Industries Ltd. key Products/Revenue Segments include Textile Goods, Export Incentives for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 722.02 Crore, up 4.59 % from last quarter Total Income of Rs 690.33 Crore and down -4.90 % from last year same quarter Total Income of Rs 759.22 Crore. Company reported net profit after tax of Rs 77.38 Crore in latest quarter.

Investment Rationale
The daily and weekly strength indicator RSI is in positive terrain and sustaining above 50 mark indicating sustained strength

Promoter/FII Holdings
Promoters held 58.94 per cent stake in the company as of 30-Jun-2022, while FIIs owned 9.28 per cent, DIIs 0.09 per cent.