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Mahindra Logistics gains on getting nod to invest Rs 7 crore in TLPL

30 Aug 2018 Evaluate

Mahindra Logistics is currently trading at Rs. 560.75, up by 3.25 points or 0.58% from its previous closing of Rs. 557.50 on the BSE.

The scrip opened at Rs. 557.85 and has touched a high and low of Rs. 560.75 and Rs. 557.00 respectively. So far 159 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 652.95 on 20-Jun-2018 and a 52 week low of Rs. 405.00 on 17-Nov-2017.

Last one week high and low of the scrip stood at Rs. 567.00 and Rs. 554.50 respectively. The current market cap of the company is Rs. 3975.77 crore.

The promoters holding in the company stood at 61.05%, while Institutions and Non-Institutions held 20.05% and 18.90% respectively.

Mahindra Logistics has received an approval for an investment of an amount up to Rs 7 crore in Transtech Logistics (TLPL). The Board of Directors of the company at their Meeting held on August 29, 2018, approved the same.

The proposed investment in TLPL, which has built a technology platform, is expected to bring operational efficiencies in SCM function of the company. Further, it would also provide opportunities to the company to offer technology solutions to its customers and business partners. This is part of the larger end-to-end digitization plan for the company. This investment will help TLPL in developing more product features and strengthening the organization.

Mahindra Logistics provides logistics solutions, warehousing facilities, freight forwarding and supply chain management services. It also provides people transport solutions, a specialised line of business which helps corporate clients move employees to and from the workplace.

Mahindra Logistics Share Price

432.00 13.85 (3.31%)
17-Apr-2026 16:59 View Price Chart
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