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Patel Integrated Logistics gains on inking MoU with Nationwide Group

31 May 2016 Evaluate

Patel Integrated Logistics is currently trading at Rs 99.65, up by 1.60 points or 1.63% from its previous closing of Rs. 98.05 on the BSE.

The scrip opened at Rs. 100.00 and has touched a high and low of Rs. 101.70 and Rs. 97.50 respectively. So far 74681 shares were traded on the counter.

The BSE group 'B ' stock of face value Rs. 10 has touched a 52 week high of Rs. 143.70 on 04-Dec-2015 and a 52 week low of Rs. 65.00 on 25-Aug-2015.

Last one week high and low of the scrip stood at Rs. 102.90 and Rs. 92.90 respectively. The current market cap of the company is Rs. 157.67 crore.

The promoters holding in the company stood at 43.51%, while Institutions and Non-Institutions held 0.70% and 55.79% respectively.

Patel Integrated Logistics (PILL) has teamed up with Saudi Arabia’s renowned Nationwide Group to develop a joint venture company -- Pivot Logistics. The joint venture, harnessing the synergies of two leading groups with legacy and experience, has been floated to tap the emerging opportunities in the largely-fragmented logistics sector of GCC and at the same time to add new dimension to the ecosystem.

Under the Memorandum of Understanding (MoU), PILL will share its know-how, manpower and technology to set up and manage the end-to-end operations of the venture. In the innovative collaboration, PILL will not make any capital investment, but will earn 19.85% sweat equity for applying their superior know-how in managing the venture's operations.

Pivot Logistics will set up a network of 50+ destinations with operations in warehousing and logistics software to begin with and is expected to generate revenue of around 40 crore annually with in 2-3 years of operation. Further, they are in the process of developing a technology that will grow their network many-fold and ease scalability.

Patel Integrated Log Share Price

11.94 0.09 (0.76%)
08-May-2026 16:59 View Price Chart
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