India's Indo Count Industries gains after unit acquires majority stake in US firm

Indo Count Industries

17/09/2024 09:30

** Shares of Indo Count Industries  ICNT.NS  rise as much as
3.5% to 415.30 rupees
    ** Bed linen co's U.S.-based unit acquires majority 81%
stake in pillow and quilt manufacturer Fluvitex USA for $19.63
mln
    ** Adds deal gives it an option to buy the remaining stake
in Fluvitex in the next 5 years
    ** Over 360,000 shares traded in stock's busiest day in more
than a week
    ** ICNT last up 1.8%, extending YTD gains to 32.8%

 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))