Allcargo Logistics jumps after its arm inks pact to acquire 100% stake in Asiapac Equity Investment
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Allcargo Logistics is currently trading at Rs. 409.30, up by 6.50 points or 1.61% from its previous closing of Rs. 402.80 on the BSE.
The scrip opened at Rs. 406.90 and has touched a high and low of Rs. 417.00 and Rs. 406.00 respectively. So far 20589 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 494.85 on 14-Nov-2022 and a 52 week low of Rs. 249.50 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 417.00 and Rs. 399.50 respectively. The current market cap of the company is Rs. 10104.23 crore.
The promoters holding in the company stood at 69.92%, while Institutions and Non-Institutions held 11.35% and 18.73% respectively.
Allcargo Logistics’ wholly owned step down subsidiary -- AGL N.V. has entered into a share purchase agreement with Atlas Global Trading F.Z.C. (UAE) to acquire 100% stake in Asiapac Equity Investment (Hong Kong). The said acquisition would result in increase in business of the company in Turkey in FCL as well as LCL consolidation and contribute to future growth. The acquisition is likely to be completed by March 2023 and the cost of acquisition will be around $4.99 million.
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
