Allcargo Terminals gains on acquiring shares in Haryana Orbital Rail Corporation Nov-12-2024 12:07 Hrs IST
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Allcargo Terminals is currently trading at Rs. 40.91, up by 0.69 points or 1.72% from its previous closing of Rs. 40.22 on the BSE.
The scrip opened at Rs. 40.26 and has touched a high and low of Rs. 40.94 and Rs. 40.15 respectively. So far 19811 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 82.50 on 10-Jan-2024 and a 52 week low of Rs. 37.84 on 23-Oct-2024.
Last one week high and low of the scrip stood at Rs. 42.83 and Rs. 40.10 respectively. The current market cap of the company is Rs. 1005.14 crore.
The promoters holding in the company stood at 67.52%, while Institutions and Non-Institutions held 6.84% and 25.64% respectively.
Allcargo Terminals has acquired 9,12,00,000 Shares of Haryana Orbital Rail Corporation (HORCL) from Allcargo Logistics (ACL), Promoter Group of the Company, on November 8, 2024, pursuant to the Share Purchase Agreement executed between the Company and ACL on October 28, 2024.
The Company being a leading operator in CFS business, for achieving long term strategic growth, the Company is interested in developing Inland Container Depots (ICD). In this context, the Company has plans to develop and operate the rail connected ICD facility at Jhajjar. The HORCL investment is important for the Company to ensure the rail connectivity for ICD to Dedicated Freight Corridor (DFC) through Haryana Orbital Rail Corridor (HORC). DFC connectivity will ensure strategic advantage to the ICD which will contribute to the future growth.
Allcargo Terminals is engaged in the business of operating Container Freight Stations.
