Palred Technologies rises on opening 3rd fulfillment center in Mumbai

09 Aug 2016

Palred Technologies is currently trading at Rs. 73.00, up by 1.40 points or 1.96% from its previous closing of Rs. 71.60 on the BSE.

The scrip opened at Rs. 70.00 and has touched a high and low of Rs. 73.00 and Rs. 70.00 respectively. So far 567 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 288.00 on 21-Oct-2015 and a 52 week low of Rs. 67.20 on 17-Jun-2016.

Last one week high and low of the scrip stood at Rs. 79.20 and Rs. 68.00 respectively. The current market cap of the company is Rs. 59.96 crore.

The promoters holding in the company stood at 44.65%, while Institutions and Non-Institutions held 7.61% and 47.74% respectively.

Palred Technologies’ LatestOne.com, India’s No.1 Mobile and Tech Accessories e-tailer has launched its Managed Marketplace to enhance speed to market and allow the customers to access the newly launched products quicker. LatestOne.com also opened its third fulfillment center in Mumbai and simultaneously commenced the operations of the Mumbai Fulfillment Center.

LatestOne.com has expanded its business model to a managed marketplace and will now list products from over 500 mobile and tech accessories vendors, gradually over the next 3 months. With this initiative, company plans to increase the size of the catalogue from 10,000 to 30,000 unique products.

LatestOne.com has so far operated only on an inventory-led model, but there has been a growing demand from several vendors to convert it into a marketplace so that they can sell their products on this platform. To control the quality of products sold on the platform, the company has developed a hybrid model and converted it into a managed marketplace. This initiative will enhance speed to market and allow the customers to access the newly launched products quicker.

Palred Technologies is a provider of software solutions for transportation and logistics industry. It offers solutions in the areas of freight forwarding industry, customs brokerage, contract logistics, shipper logistics and services. The firm also provides services like consulting, software development and system integration and implementation.

 

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