FIIs bought 6,65,208 shares of this multibagger stock: This micro-cap logistics company signs MoU with Sikder Group, Bangladesh with major expansion plans – know more here!

The stock gave multibagger returns of over 100 per cent in just 6 months and a whopping 2,200 per cent in 3 years.

Tiger Logistics (India) Ltd, a prominent player in international logistics, announces the signing of a Memorandum of Understanding (MOU) with PowerPac Holdings Limited, a concern of Sikder Group, Bangladesh, to formalize a strategic partnership between Tiger Logistics (India) Limited and establish a joint venture (JV) in the logistics sector for global trade.

Recognizing the increasing and forecasted demand for international logistics, particularly between India and Bangladesh, Tiger Logistics aims to play a pivotal role in stimulating economic growth in the region and beyond with the diverse expertise of Sikder Group, which handles the development and operations of the Mongla Economic Zone in Mongla Port, the second-largest seaport in Bangladesh.

The diversified Sikder Group, already established in various Bangladeshi industries, plans to capitalize on the country's booming trade by jointly launching an international freight forwarding and logistics business, leveraging Bangladesh's improved port access to India and the rising bilateral trade, further promoting regional connectivity.

Bangladesh is India’s biggest trading partner in the subcontinent, and India is the second-biggest export partner, accounting for 12 per cent of the total exports to Bangladesh. The total trade turnover in FY23 touched USD 14.22 billion.

Earlier, Tiger Logistics roared ahead in government partnerships, securing a major new sea logistics tender with Bharat Heavy Electricals Limited (BHEL) after their initial airfreight success in August 2023. This comprehensive deal, encompassing imports, exports, and a full suite of logistics services cements Tiger as BHEL's one-stop shop within the tender scope. Building on a track record of excellence with Hindustan Petroleum, Bank Note Paper Mill, HAL, IOCL, and various other government entities, Tiger's expertise and dedication position them as a leader in this crucial sector, paving the way for continued success in the years to come.

Today, shares of Tiger Logistics (India) Ltd plunged 1.30 per cent to Rs 783.10 per share from its previous closing of Rs 793.10 with an intraday high of Rs 815 and an intraday low of Rs 780. The company's shares have an ROE of 27.1 per cent and an ROCE of 37.7 per cent.

Earlier, The Board of Directors of the company approved the proposal of sub-division/ 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, subject to the approval of shareholders and such other approvals as may be required. The expected completion is tentatively within 2 months from the date of the Board's approval.

Tiger Logistics India Ltd. is a third-party logistics services provider. Its business covers international freight forwarding, supply chain management, project logistics, defence logistics, and cold chain logistics. Foreign Institutional Investors (FIIs) bought 6.65,208 shares of the company and increased their holding to 7.36 per cent.

The company have a market cap of Rs 888 crore. The stock gave multibagger returns of over 100 per cent in just 6 months and a whopping 2,200 per cent in 3 years. Investors should keep an eye on this micro-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.