After Dividend Small Cap Logistics Stock To Consider Fund-Raising, Gains 13% Intraday

Small cap logistics solution provider AVG Logistics Ltd shares soared 12.56% intraday soon after it informed about an upcoming meeting of Board to consider proposal of fund-raising. The meeting of Board of Directors will take place on January 12, 2024 to consider the same. AVG Logistics shares offered gain of 23% in last 2-weeks only and soared 55% in last 6-months. Earlier this year, AVG Logistics shares traded ex-dividend on September 21, 2023 for Re 1 per equity share. Check details below:

AVG Logistics To Consider Fund-Raising: As per the regulatory filing of the company dated January 8, 2024, "a meeting of the Board of Directors of the Company is scheduled to be held on Friday, January 12, 2024 to consider and approve, inter alia, proposal for raising funds through issuance of equity shares or any other equity linked instruments or securities including convertible preference shares, and / or bonds including foreign currency convertible bonds / debentures / non-convertible debt instruments along with warrants / convertible debentures / securities and / or any other equity based instrument."

AVG Logistics Bags Contract From Indian Railways: According to the BSE filing of the company dated December 5, 2023, "AVG Logistics Limited has secured a contract, valued at ~INR 150 Cr over 6 years, for lease of Parcel Cargo Express Train (PCET) from the Indian Railways. This special train, connecting Bangaloreto Ludhiana (Punjab), will complete one round trip every week over the next 6 years, totalling 313 trips. The Express Service will cover the distance in ~72 hours ensuring expeditious, seamless connectivity between the important locations. Ludhiana is an invaluable addition to our railway network, opening doors to agigantic textile market -largest hosiery manufacturing, cotton textiles, cycle manufacturing amongst others."

AVG Logistics Stock Outlook & Return: 52-week high price of AVG Logistics share is Rs 337.00 per share and 52-week low price is Rs 185.20 per share, respectively. The company has a market capitalisation of Rs 488.67 crore. AVG Logistics shares soared 20% in last 1-months, gained 46% in last 3-months, and offered return of 55% in last 6-months.

AVG Logistics About: AVG Logistics Limited ('AVG Logistics' or 'The Company') 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. 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.

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