Nitco sales volume bounces back in Q2

Nitco Limited (Nitco), India's most venerable tiles brand, has updated that its sales volume during the second quarter ended on September 30, 2020 has improved significantly and the sales volume for the month of September 2020 is almost at 80% of the sales volume achieved in September 2019.

Nitco's sales volume dipped considerably during Q1 FY2021 due to the Nation-wide lockdown. The company managed to turn the tide from July 2020 onwards and managed 3-fold improvement in sales volume during the second quarter.

Nitco is witnessing tangible improvement in business volumes and a gradual pick-up in refurbishment demand. With NITCO's brand being well-entrenched as a preferred choice of architects and designers, the company hopes to clock in larger volumes in the coming months.

Shares of NITCO LTD. was last trading in BSE at Rs.16.6 as compared to the previous close of Rs. 16.95. The total number of shares traded during the day was 4707 in over 56 trades.

The stock hit an intraday high of Rs. 16.95 and intraday low of 16.45. The net turnover during the day was Rs. 78954.

Source : Equity Bulls

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