AVG Logistics rises on bagging contract worth Rs 150 crore
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AVG Logistics is currently trading at Rs. 321.15, up by 1.25 points or 0.39% from its previous closing of Rs. 319.90 on the BSE.
The scrip opened at Rs. 319.85 and has touched a high and low of Rs. 325.00 and Rs. 316.25 respectively. So far 22830 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 337.00 on 22-Nov-2023 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. 325.45 and Rs. 297.30 respectively. The current market cap of the company is Rs. 380.05 crore.
The promoters holding in the company stood at 61.22%, while Institutions and Non-Institutions held 12.74% and 26.03% respectively.
AVG Logistics has secured a contract, valued at around Rs 150 crore over 6 years, for lease of Parcel Cargo Express Train (PCET) from the Indian Railways. This special train, connecting Bangalore to Ludhiana (Punjab), will complete one round trip every week over the next 6 years, totalling 313 trips.
The Express Service will cover the distance in around 72 hours ensuring expeditious, seamless connectivity between the important locations. Ludhiana is an invaluable addition to its railway network, opening doors to a gigantic textile market-largest hosiery manufacturing, cotton textiles, cycle manufacturing amongst others.
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.
