Extending their winning streak, shares of Allcargo Logistics opened positively for the sixth trading session in a row on Wednesday. The stock began Wednesday's session higher at ₹413 apiece, compared to the previous day's closing price of ₹411.75. The stock then surged to hit an intraday high of ₹436, up 6 percent, marking the month's largest gain so far.
At 12:30 p.m., the stock was trading at ₹431.10, up by 4.70 percent, on the BSE.
The stock has delivered a 6.82 percent return in January so far, climbing from ₹403.45 to the current price of ₹431. The stock has gained 641 percent from its March 2020 low of ₹58.
Over the last three-year period, the stock has risen 284 percent, while the Sensex has increased by 46.51 percent during the period. Further, over the last five years, the market price of the stock has increased by 118.88 percent.
The stock's 52-week low level was ₹249.2 and taking the current market price into account, the stock has risen 72.73 percent from its one-year low.
Between June and November of last year, the stock zoomed 99 percent to hit an all-time high of ₹495 per share. At current levels, the stock is just 13 percent away from its record high.
Allcargo Logistics is a small-cap stock with a market capitalization of over Rs. 10,576.8 crore. The company is engaged in providing integrated logistics solutions and offers specialised logistics services across multimodal transport operations, inland container depots, container freight station operations, contract logistics operations, and project and engineering solutions.
Recently, the company acquired a 75 percent stake in Fair Trade GmbH, a strong player in Germany, through its subsidiary Allcargo Belgium NV, PTI reported.
Fair Trade is a major player in the cargo consolidation segment in Germany, handling cargo movement across the Europe-Asia, Europe-Latin America, and Europe-North America routes.
In July 2021, Allcargo paid around USD 28 million for a 65 percent stake in Nordicon, a Belgian company.
Meanwhile, on October 3, 2022, the company started the operations of its Malur logistics park in Karnataka. The park is spread over two million square feet and set up with an investment of Rs. 700 crore.
Allcargo Group is aspiring to achieve ₹25,000–30,000 crore in revenue by 2026, with as much as ₹20,000–25,000 crore coming from its international supply-chain business and ₹2,700–3,500 crore from its express and contract logistics segments.
In Q2 FY23, the company reported a 12.54 percent drop in its consolidated net profit to Rs. 230 crore. It had posted a PAT of Rs. 263 crore in the second quarter of the previous fiscal.
The revenue from operations during the second quarter of FY23 rose 6.46 percent to ₹5,300 crore from ₹4,978 crore in Q2 FY22. The firm's EBITDA rose to Rs. 450 crore in Q2 from Rs. 362 crore in the year-ago period, a growth of 24.30 percent YoY.
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