Logistic Stock Under Rs 50: Shares of small-cap logistic company Tiger Logistics (India) Limited remained in focus during the intraday trade on Friday after the international logistics solutions provider informed that it has secured a new import break-bulk logistics contract from state-run Bharat Heavy Electricals Limited (BHEL).
According to an exchange filing, the public sector giant has awarded the contract to manage complex international freight operations, and it is valued at around Rs 4 crore. The company said that the new contract builds on its existing relationship with one of India's largest public-sector engineering and manufacturing enterprises.
Meanwhile, the stock started the session flat at Rs 35.16 amid a massive decline in the domestic equity market due to a sell-off in IT stocks after global tech giant Accenture trimmed its revenue forecast. The stock jumped a bit on the optimism around the new order to a high of Rs 35.72--up 1.6 per cent. However, due to a bearish trend in the market, the scrip remained range-bound. Last seen, the logistic stock was trading in positive territory at Rs 35.59, up 1.22 per cent or 0.43 per cent.
Meanwhile, the stock's 52-week high and low values stood at Rs 56.69 and 22.90 on NSE, respectively.
Project details
As per the information shared with the exchange, the project involves the movement of 13 over-dimensional cargo units--Each of these specialised machine components weighs a massive 89 metric tonnes-- from Italy to India. The project has a timeline of six months.
“Our continued association with large PSUs reflects the trust built over years of successfully executing complex and high-value logistics assignments. Industrial projects of this scale require meticulous planning, specialised handling capabilities, and seamless international coordination," said Harpreet Singh Malhotra, Chairman and Managing Director of Tiger Logistics (India) Limited.
Share Price History
According to BSE Analytics, the small cap logistic stock soared over 700 per cent in the last five years. However, it fell by over 5 per cent in three years and corrected nearly 40 per cent in a year. This year till date (YTD, the scrip remained muted--down 3.38 per cent. The stock traded higher in the last trading session.
Disclaimer: This story is for informational purposes only. It should not be considered as investment advice.