Allcargo Logistics surges on inking pact to acquire 30% stake in Gati-Kintetsu Express
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Allcargo Logistics is currently trading at Rs. 357.80, up by 11.40 points or 3.29% from its previous closing of Rs. 346.40 on the BSE.
The scrip opened at Rs. 355.45 and has touched a high and low of Rs. 362.65 and Rs. 347.80 respectively. So far 4007 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. 373.00 and Rs. 343.60 respectively. The current market cap of the company is Rs. 8510.89 crore.
The promoters holding in the company stood at 69.92%, while Institutions and Non-Institutions held 12.33% and 17.76% respectively.
Allcargo Logistics has signed the Share Purchase agreement with KWE-Kintetsu World Express (S) Pte (KWE Singapore), KWE Kintetsu Express (India) (KWE India), Gati and Gati-Kintetsu Express (GKEPL) for acquisition of aggregate 1,50,000 equity shares i.e. 30% stake of GKEPL comprising of 1,30,000 Equity Shares (i.e. 26% stake) in GKEPL from KWE Singapore and 20,000 Equity shares, i.e. 4% stake in GKEPL from KWE India, for an aggregate consideration of Rs 406.70 crore.
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.
