Indo Count Industries edges higher after its arm acquires international home fashions brand `Wamsutta`
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Indo Count Industries is currently trading at Rs. 373.65, up by 1.35 points or 0.36% from its previous closing of Rs. 372.30 on the BSE.
The scrip opened at Rs. 366.55 and has touched a high and low of Rs. 376.75 and Rs. 366.55 respectively. So far 19378 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 394.50 on 08-Apr-2024 and a 52 week low of Rs. 129.20 on 24-Apr-2023.
Last one week high and low of the scrip stood at Rs. 383.55 and Rs. 358.05 respectively. The current market cap of the company is Rs. 7400.30 crore.
The promoters holding in the company stood at 58.74%, while Institutions and Non-Institutions held 11.45% and 29.80% respectively.
Indo Count Industries’ wholly owned subsidiary -- Indo Count Global Inc. has acquired the international home fashions brand ‘Wamsutta’ from Beyond, Inc. Wamsutta - an industry-leading home fashions brand - has delighted generations of consumers with luxurious bed, bath and other home fashion products. This acquisition, which closed on April 18, 2024, strengthens Indo Count’s brand portfolio, and elevates its position in the premium market segment. Renowned for its exceptional quality and a brand legacy dating back to 1846, WAMSUTTA is poised for substantial growth under Indo Count's leadership. Cost of acquisition is $10.25 million.
Indo Count Industries (ICIL) is the largest global home textile bed linen manufacturer.
