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24 January, 2021 21:39 IST
Nitco November sales rises 21%; stock jumps 5%
Source: IRIS | 04 Dec, 2020, 02.57PM
Rating: NAN / 5 stars.
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 Nitco, a manufacture of flooring tiles in India on Friday announced its Tile sales volume in November recorded a 21% sequential increase over the month of October 2020. With this, November 2020 sales volume has reached 111% of the tile volumes in November 2019. The company sees the momentum to continue during the next few months.

The company continues to expand its retail footprint in select geographies. The company has identified 5 states where it plans to beef up its presence. These states are Kerala, West Bengal, Bihar, Tamil Nadu, and Uttar Pradesh.

Nitco, in November 2020, opened two showrooms, one in Kolkata, and another in Panchkula, Chandigarh. With these additions, total count of Nitco's company owned and active franchise showrooms stood at 10 and 110 respectively.

Shares of the company gained Rs 1.25, or 4.99%, to trade at  Rs 26.30.  The total volume of shares traded  was  116,961 at the BSE (1.45 p.m., Friday).

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