EV-Logistics Penny Stock Under Rs 30 Jumps Over 15 Per Cent After Bagging 5-Year Contract From Tata Steel
The shares of the company saw a spurt in volume by more than 2 times on BSE.
On Friday, one of the Top Gainers on BSE, shares of North Eastern Carrying Corporation Ltd jumped 15.5 per cent to Rs 23.99 per share from its previous closing of Rs 20.76 per share. The stock’s 52-week high is Rs 44.40 per share while its 52-week low is Rs 18.10 per share. The shares of the company saw a spurt in volume by more than 2 times on BSE.
The Company has been awarded a contract from Tata Steel Limited (TSL) for transportation of Steel Products (Coils/Sheets/Tubes) from TSL Sahibabad to various destinations through EV (Electric Heavy Vehicles) for 5 (Five) years and may be extended or renewed for a further period of one year on mutual consent. This is the company’s first massive EV logistics contract. Further, the Company has been committed to exploring more opportunities in EV logistics.
North Eastern Carrying Corporation Ltd (NECCL), founded in 1984, is a prominent transportation company in India. It provides a comprehensive suite of freight-forwarding, logistics, and goods transport services. With a network of over 250 branches and advanced ERP software, NECCL efficiently handles a wide range of transportation needs, from small parcels to large-scale projects. Their expertise encompasses bulk movements, specialized transportation, and warehousing solutions. NECCL has established strong partnerships with major corporations such as Bajaj Auto, Minda Industries, ITC Ltd and Hindalco Industries, demonstrating its commitment to delivering reliable and innovative supply chain solutions for over 56 years.
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NECC offers a comprehensive suite of logistics services, spanning Express PTL/Parcel Load, Full Truckload, Bulk Transportation, ODC Movements, and Warehousing & Distribution. To bolster its capabilities, the company is constructing a cutting-edge 183,000 sq. ft. warehouse near Gurugram. This development, coupled with strategic investments in SG Green Logistics and the integration of electric vehicles into its fleet, underscores NECC's dedication to both sustainability and innovation. This focus on green logistics and advanced technologies positions NECC for market leadership, enabling it to pursue larger contracts while promoting a more sustainable future for the logistics sector.
According to Quarterly Results, the company reported net sales of Rs 80.05 crore in Q3FY25 compared to net sales of Rs 85.58 crore in Q3FY24. The company reported a net profit of Rs 1.94 crore in Q3FY25 compared to Rs 2.52 crore in Q3FY24. In its nine-month results, the company reported net sales of Rs 240.63 crore in 9MFY25 compared to net sales of Rs 243.27 crore in 9MFY24. The company reported a net profit of Rs 8.49 crore in 9MFY25 compared to Rs 5.16 crore in 9MFY24, an increase of 64.53 per cent.
In December 2024, FIIs bought 25,061 shares and increased their stake to 0.04 per cent compared to 0.01 per cent in September 2024. The company has a market cap of Rs 215 crore and promoters hold a 54.19 per cent stake. The stock is up by 32.5 per cent from its 52-week low of Rs 18.10 per share and has given multibagger returns of over 550 per cent in 5 years. Investors should keep an eye on this logistics stock.
Disclaimer: The article is for informational purposes only and not investment advice.