AVG Logistics climbs on securing contract worth Rs 50 crore
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
AVG Logistics is currently trading at Rs. 562.90, up by 17.75 points or 3.26% from its previous closing of Rs. 545.15 on the BSE.
The scrip opened at Rs. 554.90 and has touched a high and low of Rs. 566.45 and Rs. 549.25 respectively. So far 6912 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 665.40 on 27-Feb-2024 and a 52 week low of Rs. 185.20 on 15-May-2023.
Last one week high and low of the scrip stood at Rs. 566.45 and Rs. 534.60 respectively. The current market cap of the company is Rs. 770.98 crore.
The promoters holding in the company stood at 52.76%, while Institutions and Non-Institutions held 9.47% and 37.77% respectively.
AVG Logistics has secured a significant contract from a renowned electrical appliance manufacturer to revolutionize the transportation of electrical appliances. Leveraging cutting-edge Multi-Modal Connectivity (MMC), AVG Logistics is poised to transform the surface transportation industry by adopting eco-friendly practices.
Under this groundbreaking agreement, the company will deploy rail transportation (Erstwhile Road Movement) to ensure the safe, reliable, and efficient movement of a range of appliances including washing machines, air conditioners, refrigerators, dishwashers, and other household appliances with contract value of around Rs 50 crore to be served over a period of 3 years.
This initiative underscores AVG's commitment to sustainability and green logistics through innovative transportation solutions that promote eco-conscious operations within the logistics sector. The utilization of rail for logistics operations highlights AVG Logistics’ steadfast dedication to reducing carbon emissions and advancing sustainable transportation practices.
AVG Logistics offers their customers services in three key areas like transportation whereby they provide point-to-point, less-than truck-load, time-definite transportation services; warehousing whereby they provide warehousing, distribution and cold-chain warehousing; and value-added Services including, temperature-controlled logistics, supply chain solutions and cargo handling services at integrated check posts.
