AVG Logistics surges on securing long term contract worth Rs 105 crore
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AVG Logistics is currently trading at Rs. 629.75, up by 8.50 points or 1.37% from its previous closing of Rs. 621.25 on the BSE.
The scrip opened at Rs. 607.95 and has touched a high and low of Rs. 665.40 and Rs. 595.55 respectively. So far 70107 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. 665.40 and Rs. 457.95 respectively. The current market cap of the company is Rs. 740.02 crore.
The promoters holding in the company stood at 61.22%, while Institutions and Non-Institutions held 6.87% and 31.90% respectively.
AVG Logistics has secured a 6 year long term contract, valued at Rs 105 crore, for lease of Parcel Cargo Express Train (PCET) from the Indian Railways. This special train, connects Korukkupet Goods Shed (Chennai) to New Guwahati Goods Shed (Guwahati), will complete 4 trips every month over the next 6 years, totalling 313 trips during the contract tenure. The Carrying Capacity during the trip is expected to be 364 tonnes for the first six months. Later, it will be 484 tonnes per trip. The Express Train Service will cover the distance of 2500 kilometres in 72 hours ensuring expeditious, seamless connectivity between the two locations.
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.
