Nitco share price jumps 5% on improvement in sales volume
Company is witnessing tangible improvement in business volumes and a gradual pick-up in refurbishment demand, the company said
October 08, 2020 / 01:17 PM IST
Nitco share price jumped over 5 percent intraday on October 8 after the company posted better sales numbers in the month of September 2020.
The company's 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, company said in its press release.
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, company said.
Company is witnessing tangible improvement in business volumes and a gradual pick-up in refurbishment demand, it added.
At 12:57 hrs Nitco was quoting at Rs 17.45, up Rs 0.85, or 5.12 percent on the BSE.
The share price declined 39 percent in last 9 months.
The share touched its 52-week high Rs 34.25 and 52-week low Rs 10.80 on 06 December, 2019 and 25 March, 2020, respectively.
Currently, it is trading 49.05 percent below its 52-week high and 61.57 percent above its 52-week low.