AVG Logistics Limited, a prominent and leading multimodal logistics solutions provider based in India, has made a significant announcement regarding orders received by the company.
As detailed in the official report, AVG Logistics Limited has been awarded a work order from a leading FMCG company. However, the company has not disclosed the client’s name from which the order was received. It is certain that this FMCG company is an existing multinational customer of the company, as per the press release.
Furthermore, the cumulative size of the order is approximately Rs 72 crore, and it is to be executed over a tenure of three years.
This contract is set to enhance the company’s footprint in India and boost its market share with the customer, contributing to the attainment of double-digit growth in FY24. The company is well-positioned for continued expansion in the technology-enabled, customized dedicated trucking business model across various regions.
Today, the company’s shares began trading at Rs 301.45, marking a 1.9% increase from the previous day’s closing price of Rs 295.90. They reached an intraday high of Rs 305.30 each on the BSE and finally closed the session at Rs 301.35 each on the BSE, representing a gain of 1.84%.
The market capitalization of the company is Rs 345.85 crore. Additionally, the stock has delivered a return of 12% in a month and 52% in the last six months.
Here is the chart presentation of the company’s shares on the monthly time frame:
AVG Logistics Limited is a leading multimodal logistics solutions provider based in India. Founded in 2010, the Company has rapidly grown to become a trusted partner for businesses across India and abroad. With a team of dedicated logistics experts and a modern fleet, AVG Logistics provides customized and technology-driven solutions across transportation, warehousing, distribution, and supply chain management. Furthermore, the Company also offers Third-Party Logistics Services (3PL), effectively complementing its wide range of logistics solutions.
Investors should keep an eye on this stock.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.