Allcargo Logistics is currently trading at Rs. 384.30, up by 10.45 points or 2.80% from its previous closing of Rs. 373.85 on the BSE.
The scrip opened at Rs. 381.00 and has touched a high and low of Rs. 399.00 and Rs. 380.00 respectively. So far 84569 shares were traded on the counter.
The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 399.00 on 24-Dec-2021 and a 52 week low of Rs. 121.25 on 19-Apr-2021.
Last one week high and low of the scrip stood at Rs. 399.00 and Rs. 325.35 respectively. The current market cap of the company is Rs. 9437.17 crore.
The promoters holding in the company stood at 69.95%, while Institutions and Non-Institutions held 10.51% and 19.54% respectively.
Allcargo Logistics’ Board of Directors has approved the demerger of CFS/ICD business into Allcargo Terminals and demerger of equipment rental, logistics parks and other real estate assets into TransIndia Realty & Logistics Parks (TransIndia).
The strategic move will position the company to accelerate growth across businesses by creating independent business undertakings, with sharper management focus, better access to right capital, and greater operational and financial flexibility.
Allcargo Logistics would continue to be the leader in international supply chain, express logistics and contract logistics businesses with increased focus on digitization. The resulting company Allcargo Terminals will be the market leader in CFS business in India and continue to expand its footprint in ICDs. Five out of seven facilities of Allcargo are already on lease and the new resulting structure will make all seven CFS/ICDs completely asset light, positioning the company strongly to drive growth with high return on capital employed.
Allcargo Logistics is an India-based holding Company. The company is engaged in providing integrated logistics solutions. It offers logistics services across multimodal transport operations, inland container depot, container freight station operations, contract logistics operations etc.