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Mahindra Logistics is currently trading at Rs. 519.00, up by 14.45 points or 2.86% from its previous closing of Rs. 504.55 on the BSE.

The scrip opened at Rs. 515.05 and has touched a high and low of Rs. 533.60 and Rs. 515.05 respectively. So far 15619 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 814.00 on 25-Nov-2021 and a 52 week low of Rs. 395.65 on 28-Feb-2022.

Last one week high and low of the scrip stood at Rs. 567.30 and Rs. 496.75 respectively. The current market cap of the company is Rs. 3630.54 crore.

The promoters holding in the company stood at 58.12%, while Institutions and Non-Institutions held 33.57% and 8.31% respectively.

Mahindra Logistics has entered into a business transfer agreement with Rivigo Services (RSPL) and its promoter for acquisition/purchase of its B2B express business, as a going concern, on slump sale basis, for a lump sum consideration of Rs 225 crore, on the terms and conditions more specifically defined in the said agreement. Under the terms of the agreement, the company will acquire the express business including the customers, team and assets of RPSL’s B2B express business, RSPL’s technology platform and the Rivigo brand. RSPL will continue to own its truck fleet & the rights to the full truck load (FTL) operations. The Indicative time period for completion of the acquisition is on or before November 01, 2022. The acquisition will augment the company’s existing B2B express business leveraging Rivigo’s strong network, technology and process capabilities.

Gurgaon based Rivigo operates a pan India B2B express network, has a robust client base and a full-service technology suite. Rivigo’s B2B express network currently covers over 19,000 pin-codes across the nation. Their over 250 processing centres and branches, spanning an area more than 1.5 million sq. ft. will add significant strength to the company’s express business capability.

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.