Mahindra Logistics surges on planning to invest Rs 170 crore for warehousing facility in Phaltan
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Mahindra Logistics is currently trading at Rs. 436.90, up by 5.05 points or 1.17% from its previous closing of Rs. 431.85 on the BSE.
The scrip opened at Rs. 434.85 and has touched a high and low of Rs. 438.15 and Rs. 428.75 respectively. So far 3444 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 498.90 on 01-Feb-2023 and a 52 week low of Rs. 347.15 on 25-Oct-2023.
Last one week high and low of the scrip stood at Rs. 447.20 and Rs. 412.00 respectively. The current market cap of the company is Rs. 3128.89 crore.
The promoters holding in the company stood at 58.04%, while Institutions and Non-Institutions held 21.64% and 20.32% respectively.
Mahindra Logistics (MLL) has planned to invest Rs 170 crore for construction of its warehousing facility in Phaltan, near Pune. Spread over 6.5 lakh square feet (sq ft), the new facility will be developed in two phases. The first phase, comprising 3.5 lakh sq ft, is scheduled to be operational by the end of 2024. The company will manage inbound logistics to manufacturing and distribution solutions of diverse clients in automotive and manufacturing sectors located in the region.
Mahindra Logistics (MLL) 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.
