Allcargo Logistics soars on acquiring two large vessels

14 Aug 2015

Allcargo Logistics is currently trading at Rs. 318.90, up by 7.40 points or 2.38% from its previous closing of Rs. 311.50 on the BSE.

The scrip opened at Rs. 316.00 and has touched a high and low of Rs. 321.75 and Rs. 311.30 respectively. So far 23772 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 378.50 on 09-Apr-2015 and a 52 week low of Rs. 215.00 on 17-Sep-2014.

Last one week high and low of the scrip stood at Rs. 347.40 and Rs. 306.45 respectively. The current market cap of the company is Rs. 3991.93 crore.

The promoters holding in the company stood at 69.92% while Institutions and Non-Institutions held 5.93% and 24.15% respectively.

llcargo Logistics has acquired two additional vessels aggregating 24,000 DWT for its coastal shipping business. Post this acquisition, the company now owns a total of 5 cargo vessels making it one of the largest players in the logistics industry. The key reason for this acquisition was to cater to the growing demand not only of coastal shipping but regional trade and commerce as well.

Meanwhile, the company has reported 53% rise in its consolidated net profit at Rs 75.1 crore for the quarter ended June 30, 2015 as against Rs 49 crore reported in the same period last year.

Allcargo Logistics is an integrated logistics service provider and broadly operates in three segments - Multimodal Transport Operations (MTO), Container Freight Stations (CFS)/Inland Container Depot (ICD) and Project & Engineering solutions (P&E).


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Allcargo Logistics Share Price

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323