3:1 Bonus Shares: S&P BSE Logistics Stock Under Rs 100 Jumps 13.28% Intraday

Small cap logistics player Allcargo Logistics Ltd shares zoomed 13.28% intraday today as the company informed via its BSE filing about cancelling the Analysts/ Institutional Investor meeting that was scheduled to take place today. Allcargo Logistics shares gained 15.02% in last 1-week only. Earlier, Allcargo Logistics shares traded ex-bonus on January 2, 2023. The scrip not only witnessed surge in shares price but witnessed spurt in volume too by more than 17.70 times today. Current market price of Allcargo Logistics stock on BSE is Rs 84.21 apiece. Check details below:

Allcargo Logistics Cancels Analyst/Institutional Investors Meeting: As per the BSE filing of the company issued today, "With reference to our letter dated February 15, 2024 and in accordance with Regulation 30(6) read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that the Analysts/ Institutional Investor meeting, which was scheduled to be held on Tuesday, February 20, 2024, has been cancelled on account of exigency at the Company's end."

Allcargo Logistics Shares Performance & Return: The 52-week high price of Allcargo Logistics shares on BSE is Rs 97.70 apiece and 52-week low price is Rs 61.50 apiece, respectively. Allcargo Logistics shares rallied 36.93% from its 52-week low prices. The stock gained 27% in last 6-months, declined over 7% in last 1-year, and offered return of 161% in last 3-years.

Allcargo Logistics Financials: The company for the quarter ended December 2023 declared its net profit at Rs 3.18 crore, down 95.63% from Rs 72.85 crore in the corresponding quarter of last year. The company declared its net sales at Rs 402.44 crore for December 2023 quarter, down 21.33% from Rs 511.56 crore in the similar quarter of last year. EBITDA of the company stood at Rs 15.65 crore for the quarter under review, down 41.14% from Rs 26.59 crore in December 2022. The EPS came down to Rs 0.03 in December 2023 from Rs 1.15 in December 2022.

Allcargo Logistics Trades Ex-Bonus: As per the BSE filing of the company dated December 20, 2023, the company declared January 2, 2023 as the record date for 3:1 bonus shares. It implies shareholders will be eligible to receive 3 bonus shares for every 1 share held today.

Allcargo Logistics Declared Demerger: Boards of Allcargo Logistics Limited and Allcargo Gati Limited have given nod to the composite scheme of arrangement for restructuring of businesses under Allcargo Limited and Allcargo Gati Limited (Formerly Gati Limited), according to a BSE filing issued on December 21, 2023. As per the schem e, International Supply Chain (ISC) business will be demerged into a separate entity: Allcargo ECU Limited. This would include the India part of International Supply Chain business along with the international subsidiaries held under the ECU Worldwide NV.

About: It transports cargo across the globe with international supply chain and air freight solutions. The company provides express distribution under Gati Limited and end-to-end contract logistics under Allcargo Supply Chain. As part of the leading Allcargo Group, it creates synergies and collaborates with its group companies for integrated logistics including CFS-ICD under Allcargo Terminals Limited and logistics parks under Transindia Real Estate Limited, according to its official website.

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