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Logistics stock jumps 7% after it partners with HPCL for strategic logistics services

Prominent logistics company has partnered with HPCL for strategic logistics services, supporting critical freight and customs operations. The empanelment, valued at ₹546 lakhs, reflects HPCL’s trust in the company’s capabilities.
Logistics stock jumps 7% after it partners with HPCL for strategic logistics services
Logistics stock jumps 7% after it partners with HPCL for strategic logistics services

Introduction:

Leading logistics provider has been empaneled by Hindustan Petroleum Corporation Limited (HPCL) for strategic logistics services, strengthening its expertise in air and sea freight. This collaboration, with a financial limit of ₹546 lakhs, supports HPCL’s critical operations.

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Share price movement of Tiger Logistics:

On December 30, 2024, Tiger Logistics (India) Ltd opened at ₹65.00, a decrease of 0.18% from its previous close of ₹65.12. The stock reached a high of ₹71.10 and a low of ₹63.00. By 12:28 PM, it traded at ₹67.50, reflecting a 3.65% increase, with a market cap of ₹713.64 crore.

Tiger Logistics partners with HPCL:

Tiger Logistics (India) Limited has been empaneled by Hindustan Petroleum Corporation Limited (HPCL) for strategic logistics services. This partnership underscores Tiger Logistics’ expertise in providing comprehensive logistics solutions, including air and sea freight handling.

The empanelment will support HPCL’s critical freight and customs operations, ensuring seamless import and export processes. With a financial limit of ₹546 lakhs, the collaboration highlights HPCL’s confidence in Tiger Logistics’ capability to manage large-scale logistics assignments with efficiency and reliability.

Tiger Logistics has also renewed collaborations with BHEL, BEML, and BNPLIPL, strengthening its portfolio in air and sea cargo. With a three-year validity, the empanelment underscores the company’s focus on expanding its partnerships with public entities and PSUs.

Recent news on Tiger Logistics:

As of December 9, 2024, Tiger Logistics (India) Ltd’s board approved a fundraising plan of up to ₹400 crore. The company intends to raise funds through equity shares, convertible instruments, or other permissible securities via a preferential issue.

Stock performance of Tiger Logistics for Period of 1 week, 6 months and 1 year:

The company has experienced a 7.39% decline in stock price over the past week but saw a strong 70.2% increase over the last six months. However, its performance over the past year reflects an 8.45% decrease.

Also Read: Mukul Agrawal stocks with PEG ratio less than 1

Shareholding pattern of Tiger Logistics:

All values in %Sep 2024Jun 2024Mar 2024
Promoter57.10%57.10%57.10%
FII8%8.70%8.20%
DII0.00%0.00%0.00%
Public34.80%34.20%34.70%
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About Tiger Logistics:

Tiger Logistics (India) Limited (BSE: 536264) is a leading global logistics provider specializing in freight forwarding, transportation, and customs clearance. With over 24 years of experience, it offers tailored solutions and launched the FreightJar platform for SMEs/MSMEs in 2023.

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.

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