1:10 Stock Split: Logistics Stock Declares Strategic Plan To Boost Presence In Energy Space

Small cap company Tiger Logistics (India) Ltd shares today hit lower circuit in trade today on BSE. Current market price of Tiger Logistics shares BSE is Rs 52.65 apiece. The company on March 14 announced its strategic plan towards setting up a dedicated vertical - 'TiGreen' which will be focusing on strengthening its presence in the global trade of sustainable & renewable energy, by providing tailor-made international logistics solutions, primarily for solar power and electric mobility segment."

The scope of this dedicated vertical is in alignment with the Indian government's initiatives towards promoting sustainable and renewable energy such as PM Surya Ghar scheme, which is expected to increase imports of solar cells, modules, or associated components. In 2023, Tiger Logistics strengthened its network in Cambodia, Malaysia, Vietnam, Thailand and Hong Kong which are emerging alternate destinations for the import of Solar Module Panels in India, added the BSE filing.

"We recognize the critical role that logistics plays in shaping a greener future along with the government's vision for a cleaner and greener future. As the world transitions towards renewable energy and eco-friendly transportation solutions, the logistics sector must adapt and innovate to support this transition effectively," Mr. Harpreet Singh Malhotra, CMD, Tiger Logistics said.

Tiger Logistics Shares Performance & Return: The 52-week high price of Tiger Logistics shares on BSE is Rs 87.00 apiece and 52-week low price is Rs 33.50 apiece. Tiger Logistics has a ROE of 10.88, PE of 5.22, and EPS (TTM) of 10.61, as per BSE data. Tiger Logistics share fell 22% in last 1-week, declined 33% in last 1-month, and gained 40% in last 1-years. In last 2-years, Tiger Logistics stock gained 163% and surged 926% in last 3-years. The scrip rallied 415% in last 5-years.

Tiger Logistics Stock Split & Dividend: It declared 1:10 stock split earlier this year and set March 4 as the record date. In 2021, Tiger Logistics also recommended Re 1.00 /share dividend and shares traded ex-dividend on December 1, 2021.

Tiger Logistics Q3 Results: The company for the quarter ended December 31, 2023 declared its revenue from operations at Rs 51.95 crore as against Rs 82.82 crore declared in the corresponding quarter of last year. Total income of Tiger Logistics announced at Rs 53.04 crore as compared to Rs 85.22 crore in the similar quarter of last year. Profit for the quarter under consideration declared at Rs 3.6 crore as against Rs 8.27 crore declared in December 31, 2022. The EPS of Tiger Logistics declared at 3.54 for December 2023 quarter as against Rs 7.90 in December 2022 quarter.

About: 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 company's plan to boost its presence in energy 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.