Stock Split From Rs 10 To Re 1: Multiabgger Logistics Stock Hits Lower Circuit, 52-Week High

Small cap logistics sector player Tiger Logistics (India) Ltd shares today hit 5% lower circuit and traded fresh 52-week high level as shares split from Rs 10 to Re 1. Current market price of Tiger Logistics shares on BSE is Rs 68.50 apiece with intraday fall of 0.80%. Tiger Logistics had fixed March 4, 2024 as the record date for stock split/sub-division of shares on February 17, 2024. Tiger Logistics stock offered shareholders multibagger returns over years. The scrip declined 16% in last 1-week and offered return of 241% in last 2-years. Today, Tiger Logistics shares traded ex-split in the ratio of 1:10.

What Is Stock Split? When a company announces stock split, it leads to increased number of shares of that company with the market cap remaining same. The current shares split with the underlying value remaining similar. When the number of shares rise, the price per share declines. Companies go for stock split to make the share more affordable for investors who may find it difficult to buy the shares of that company due to high prices.

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 market capitalisation of Rs 724.22 crore. Tiger Logistics has a ROE of 10.88, PE of 65.05, and EPS (TTM) of 10.61, as per BSE data. Tiger Logistics shares declined 17% in last 1-month, gained 81% in last 1-year, and surged 1625% in last 3-years. In last 5-years, Tiger Logistics stock rallied 573% and 2364% in last 10-years.

Prior to the stock split of Tiger Logistics, the stock's last trading price on February 17 was Rs 809.35 apiece.

Tiger Logistics Shares Trade Ex-Split: According to the regulatory filing of Tiger Logistics dated February 17, 2024, "we wish to inform you that pursuant to the shareholders' approval obtained through postal ballot on 10th February, 2024, the Board of Directors of the Company has fixed March 4, 2024 as record date as mentioned below in the table for the purpose of sub-division/split of 1 (one) Equity Share of the Company having a face value of Rs. 10/- each into 10 (Ten) Equity shares of the company having face value of Re. 1 each."

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.

Tiger Logistics Order Win From HPCL: As per the BSE filing of the company dated January 2, 2023, "Our Company has been awarded another government tender from Hindustan Petroleum Corporation Limited marking a significant milestone to enter petro segment."

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 stock split as shares trade ex-split 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.