NITCO is currently trading at Rs. 16.70, up by 0.25 points or 1.52% from its previous closing of Rs. 16.45 on the BSE.
The scrip opened at Rs. 16.80 and has touched a high and low of Rs. 16.80 and Rs. 16.60 respectively. So far 1097 shares were traded on the counter.
The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 34.25 on 06-Dec-2019 and a 52 week low of Rs. 10.80 on 25-Mar-2020.
Last one week high and low of the scrip stood at Rs. 17.45 and Rs. 16.35 respectively. The current market cap of the company is Rs. 120.36 crore.
The promoters holding in the company stood at 53.00%, while Institutions and Non-Institutions held 23.88% and 22.98% respectively.
NITCO has been the only and the first Indian tile brand to carve an entry as the preferred tile brand supplier for one of the large counter retail entity in US. It has secured the largest export business order on the strength of its design and quality, garnering an entry across more than 1000 stores in US.
The customer is a US based large-counter retail entity specialising in sales of hardware, home improvement and seasonal interior decoration products catering mainly to the home improvement professionals, construction and Do-It-Yourself (DIY) concept clients. It operates retail chain stores across US and Canada and is one amongst the top five in the Home improvement Retail industry in US and the world. NITCO will be completing despatch of the initial order for $1.2 Mio (with a possible upside of another $1.8 mio by FY22) for supply of Porcelain tiles during the current quarter with due compliance under RESA (Retail ethical sourcing assessment) and CTPAT (Custom Trade Partnership against Terrorism).
Accomplishment of this export order reaffirms NITCO’s strength in creative design, innovation and as a trendsetter brand. The team visited Italian quarries to procure natural stones and created designs, scanning from the right colour/type of stones that led to the success of the order. This will enable NITCO to establish a strong presence in US market and tap other customers in the region.
NITCO is an India-based company, engaged in the manufacture and marketing of ceramic tiles (wall and floor), Naturoc (gres porcelain tiles), vitrified tiles, marble, as well as real estate development.
