Buy Indo Count Industries Ltd., target Rs 1300.0 : JM Financial

JM Financial has Buy call on Indo Count Industries Ltd. with a target price of Rs 1300.0. The current market price of Indo Count Industries Ltd. is 835.7. Time period given by analyst is year, when Indo Count Industries Ltd. price can reach defined target. The brokerage said the company witnessed a muted 6% YoY growth in net sales dur ing Q1FY17, in line with the management's guidance in view of a weak winter season for retailers such as Walmart and Target in the US. It said diversification in value added segments will lend volume support, while sufficient raw material cover may ensure stable margins. Indo Count Industries fell 0.18% to `854.65 on Friday.