Multi-Bagger Rs 800 Logistic Stock In Which FII Hiked Holding To 7.4% From 1.1%, Will Split In 1:10 Ratio Soon

Tiger Logistics has emerged as an eye-candy of foreign investors as FIIs holding flew off the roof to 7.36% in Q3FY24, compared to merely 1.07%. This stock is currently trading near its 52-week high, while at the same time, it has more than doubled investors' money in six months. Indeed, Tiger Logistics share price is multi-banger. After giving impressive returns, Tiger Logistics is now planning to carry a sub-division of its share price in the ratio of 1:10.

Tiger Logistics (India) Share Price:

At the time of writing, Tiger's stock price traded at Rs 825 apiece, up by 1.93% on BSE with a market cap of Rs 872.23 crore. The stock touched an intraday high of Rs 840 apiece, which was near its 52-week high of Rs 870.00 apiece, and also near its 5% upper circuit of Rs 849.80 apiece.

In six months, Tiger Logistics' share price zoomed by 129% on BSE as of now. While in a year, the stock gained by nearly 124%.

Tiger Logistics (India) FIIs Holding:

There was a sharp upside in FIIs holding in Tiger Logistics during Q3FY24. In the third quarter, FIIs holding increased by 6.29% to 7.36% as of December 31, 2023, from earlier 1.07% as of September 30, 2023.

In a number of shares, FIIs/FPIs holding in Tiger Logistics is around 7,78,465 equity shares.

Not just that, the number of FII/FPI investors also doubled to 8 in Q3FY24 from earlier 4 in Q2FY24.

Tiger Logistics (India) Stock Split:

On February 17, Tiger Logistics fixed March 4, 2024, as the record date for determining the eligibility of Shareholders for sub-division/split of each Equity Share having a face value of Rs.10/- each into 10 (Ten) Equity Shares having face value of Re.1/- each.

Last week, Harpreet Singh Malhotra, CMD of Tiger Logistics (India) Limited said, "We extend our gratitude to our valued shareholders for their unwavering trust. Our commitment remains steadfast in delivering value, exemplified by our decision to initiate a 1:10 stock split. This endeavour reflects our dedication to fostering trust and ensuring mutual success as we move forward together."

Tiger Logistics (India) Q3FY24:

In Q3FY24, the company posted a net profit of Rs 3.74 crore, up by 12.5% QoQ. However, the PAT is not even half of what it was in Q3FY23 at Rs 8.35 crore. Revenue came in at Rs 51.95 crore versus Rs 82.83 crore in Q3FY23 and Rs 53.58 crore in Q2FY24.

On the financial results, Malhotra said, "Amidst challenges, our journey is one of growth and resilience, fueled by effective decision-making and strategic prowess. We embrace the opportunity to bridge sectors, partnering with a major private bank and revolutionizing global logistics through Freight Jar Beta Version 2.0. Our dedication is reflected in securing prestigious government projects and fostering strategic alliances with industry leaders like PowerPac Holdings Limited, poised to unlock new frontiers in international trade. With each milestone, we affirm our commitment to driving economic growth and delivering excellence in logistics."

About Tiger Logistics (India):

Tiger Logistics (India) Limited is a BSE-listed leading international logistics player known for its expertise in handling the import and export of cargo and projects. It has a very strong base of approximately 50 agents and partners all over the world. Its competitive edge lies in its Asset Light Model and providing a one-stop solution to Customers for International Trades. The company provides logistics services across varied sectors thereby hedging its risk during downturns in the economic cycle.

Disclaimer: The stock highlights about the share splits and performance, and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.