Stock Split 2024: Logistic Stock To Consider Stock Split On 9th Jan; Do You Own?

Tiger Logistics (India) Ltd is a transport services small-cap company. Tiger Logistics India Limited is a prominent worldwide logistics firm and solutions provider, spanning freight forwarding, transportation, and customs clearing. It is listed on the Bombay Stock Exchange.

Tiger Logistics, which has a significant national footprint, has been providing services to various industries such as automotive, engineering, yarns, textiles, pharmaceuticals, commodities, and fast-moving consumer goods (FMCG) for over 22 years. Tiger Logistics (India)'s stock was up 3.25% at Rs 637.60 on Friday following the company's announcement that its board of directors would meet on Tuesday, January 9, 2024, to discuss a stock split.

"Pursuant to the provisions of Regulation 29 and any other applicable regulations of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Tuesday, 9th January, 2024 inter-alia to consider and approve the following items: 1.

The proposal for sub-division/split of existing Equity Shares of the Company having a face value of Rs. 10/- each, fully paid up, in such manner as may be determined by the Board of Directors subject to the approval of Shareholders of the Company and/or any other regulatory/statutory approvals (if any). 2. Approval of Notice of EGM/Postal Ballot and other related matters. 3. Consequent alteration of Memorandum of Association of the Company. 4. Any other item with the permission of Chairman," said Tiger Logistics (India) in a stock exchange filing on Thursday.

On a standalone basis, the company recorded a net sales of Rs 53.58 crore in the September 2023 quarter down 70.6% from Rs. 182.24 crore in the September 2022 quarter. Its net profit stood at Rs. 3.22 crore in Q2FY24 down 59.3% from Rs. 7.92 crore in Q2FY23. Its EBITDA reached Rs. 4.44 crore in the second quarter of the current fiscal year down 58.89% from Rs. 10.80 crore in the same period of FY23.

In the last 1 year, the stock has gained 56.46% and on a YTD basis, it has gained 35.11% so far in 2023. The scrip reached a 52-week-high of Rs 656.00 on (20/12/2023) and a 52-week-low of Rs 335.00 on (28/03/2023).