10:1 stock split & FIIs bought 7.97 per cent stake in FY24: High ROE & high ROCE multibagger logistics stock at Rs 43.09; Hits back-to-back upper circuits!
The stock gave multibagger returns of 900 per cent in 3 years and a whopping 1,400 per cent in a decade. I
Today, shares of Tiger Logistics (India) Ltd were locked in a 5 per cent upper circuit to Rs 43.09 per share from its previous closing of Rs 41.04. The stock’s 52-week high is Rs 87 and its 52-week low is Rs 34.40 with an ROE of 27 per cent and an ROCE of 38 per cent. In the recent trading session, the stock has been hitting back-to-back upper circuits.
Tiger Logistics, a publicly traded leader in international logistics since 2000, offers customized freight forwarding, transportation, and customs clearance solutions across diverse industries. They leverage a network of partners and an asset-light model to provide cost-effective management of clients' entire international logistics needs.
Earlier, the company won a favourable ruling on a service tax dispute. After initially being assessed for over 5 crores in service tax, penalties, and interest, appeals brought the amount down to what the company had already paid. The final ruling accepted the company's claim for an abatement, a reduction in taxes based on specific conditions.
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Additionally, the company ex-traded stock split of the company’s 1 (one) equity share having a face value of Rs 10 each into 10 (ten) equity shares of the company having a face value of Rs 1 each as of the record date. The ex-record date was Monday, March 04, 2024. Furthermore, FIIs have increased their stake to 8.19 per cent in March 2024 compared to 0.22 per cent in March 2023.
The company have a market cap of Rs 455.57 crore and reported positive numbers in its Quarterly Results (Q3FY24) and nine-month results (9MFY24). The stock gave multibagger returns of 900 per cent in 3 years and a whopping 1,400 per cent in a decade. Investors should keep an eye on this micro-cap logistics stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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