Small Cap Co To Acquire 20% Stake In SG Logistic, Shares Jump 254% In 3-Yrs

Small cap company operating in logistics sector, North Eastern Carrying Corporation Ltd (NECC) declared that it has inked a memorandum of understanding (MoU) with SG Logistic Management Private Limited (a group company of SG Group) to acquire 20% stake for an aggregate amount of Rs 20 crore in a phased manner, according to its December 4 BSE filing.

However, NECC shares witnessed a decline of 0.16% to 31.45 per share. NECC shares offered shareholders return of 254% in last 3-years. Check details below:

NECC Inks MoU With SG Logistic: According to the BSE filing of the company, "In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform you that the Company has entered into Memorandum of understanding with S.G. Logistic Management Private Limited today i.e December 04, 2023 to invest upto 20 Crores in the same and acquiring upto 20% of shares/ other securities therein."

North Eastern Carrying Corporation Share Performance & Return: Last trading price of North Eastern Carrying Corporation share on BSE is Rs 31.45 apiece. Its 52-week high price is quoted at Rs 33.90 per share and 52-week low price is quoted at Rs 13.20 apiece, respectively. The company has a market capitalisation of Rs 292.62 crore. North Eastern Carrying Corporation shares gained 54% in last 6-months, soared 23% in last 1-year, surged 254% in last 3-years, and offered shareholders return of 246% in last 5-years.

North Eastern Carrying Corporation About: Its services include wide array of freight management and customized logistics solutions backed by an automated ERP based software. It provides Nation Wide Transport services in Nepal, Bhutan and India. It is among top freight forwarding companies in India. North Eastern Carrying Corporation is specialized in offering domestic goods transportation, international goods transportation, commercial goods transportation services, industrial goods transportation along with warehousing services, according to its official website.

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