Meanwhile, the S&P BSE Sensex was down 55.46 points or 0.2% at 28,279.09.

On BSE, so far 18,000 shares were traded in the counter as against average daily volume of 25,072 shares in the past one quarter. The stock hit a high of Rs 758.05 and a low of Rs 721.05 so far during the day. The stock had hit a record high of Rs 1,248.45 on 8 February 2016. The stock had hit a 52-week low of Rs 700 on 29 September 2016. The stock had underperformed the market over the past one month till 4 October 2016, sliding 10.57% compared with 0.69% fall in the Sensex. The scrip had also underperformed the market in past one quarter, declining 28.37% as against Sensex's 3.87% rise.

The small-cap company has equity capital of Rs 39.48 crore. Face value per share is Rs 10.

This upgradation in the long term bank facilities (term loan) and short term bank facilities (fund & non-fund based bank facilities) ratings reflects the company's consistent cash accruals generated in the business and its strengthened leading position in the niche home textiles segment which has led to a healthy debt coverage metrics and liquidity position for the company, CARE said.

Indo Count Industries' net profit rose 15.6% to Rs 60.29 crore on 6% growth in net sales to Rs 476.68 crore in Q1 June 2016 over Q1 June 2015.

Indo Count Industries is a specialized end-to-end bedding provider. The company makes bed sheet sets, pillow cases, duvet covers, bed skirts, comforters and window covering, etc.