The stock of textile player, Indo Count was buzzing on the bourses during Wednesday’s trade. The stock spiked up by over 9% following the clarification from the company’s management regarding rumours of losing customers.
The company has not lost any customers, we strongly deny the rejection of orders by any of our customers. These rumours are totally false and baseless, said Indo Count in a BSE filing on Tuesday post market hours.
As a part of our forex policy, we are adequately covered for FY18. We are vigilant towards the rupee movement and going forward for FY19, we have taken adequate steps to hedge accordingly, the company said.
The company has not lost any customers, we strongly deny the rejection of orders by any of our customers. These rumours are totally false and baseless, said Indo Count in a BSE filing on Tuesday post market hours.
As a part of our forex policy, we are adequately covered for FY18. We are vigilant towards the rupee movement and going forward for FY19, we have taken adequate steps to hedge accordingly, the company said.
ICRA has reaffirmed the credit rating of 'ICRA AA-' and 'ICRA A1+' for the company's banking facilities; with outlook revised to 'Positive' from 'Stable', it added.
Meanwhile, Indo Count was trading at Rs 109.10 per share, up by Rs 8.85 or 8.83% as at 1102 hours on Wednesday, on the BSE. The stock witnessed a spurt in volume by more than 2.26 times. It attracted a traded volume of 72,29,664 shares and traded value of Rs 7,737.19 lakh on the NSE..
Meanwhile, Indo Count was trading at Rs 109.10 per share, up by Rs 8.85 or 8.83% as at 1102 hours on Wednesday, on the BSE. The stock witnessed a spurt in volume by more than 2.26 times. It attracted a traded volume of 72,29,664 shares and traded value of Rs 7,737.19 lakh on the NSE..
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