Buy Indo Count Industries, target price Rs 210: ICICI Securities

ICICI Securities has buy call on Indo Count Industries with a target price of Rs 210. The current market price of Indo Count Industries Ltd. is Rs 188.5. Time period given by analyst is Intra Day 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 3733.81 Crore) operating in Textiles sector.

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 704.75 Crore, down -11.04 % from last quarter Total Income of Rs 792.25 Crore and up 65.84 % from last year same quarter Total Income of Rs 424.97 Crore. Company reported net profit after tax of Rs 57.76 Crore in latest quarter.


Investment Rationale
Resolute breakout above the last 8 months rounding formation and MACD in buy mode