FIIs bought 6,65,208 shares of this multibagger stock with 2,100 per cent returns: Board announces first-ever stock split – scrip trades at high ROE and high ROCE
The stock gave multibagger returns of over 120 per cent in just 6 months and a whopping 2,100 per cent in 3 years.
Today, shares of Tiger Logistics (India) Ltd surged 3.8 per cent to Rs 840 per share from its previous closing of Rs 809.35. The stock’s 52-week high is Rs 870 and its 52-week low is Rs 335 with an ROE of 27.1 per cent and an ROCE of 37.7 per cent.
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 as of record date. The Board fixed the record date as Monday, March 04, 2024.
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 in December 2023 compared to 1.07 per cent in September 2023.
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Tiger Logistics and Bangladesh's Sikder Group (via PowerPac Holdings) have joined forces to create a joint venture catering to the booming India-Bangladesh trade. Leveraging Sikder's expertise in Mongla Port and India's improved port access, they aim to establish an international freight forwarding and logistics business, capitalizing on the USD 14.22 billion bilateral trade and Tiger's proven track record in government partnerships, like the recent BHEL deal, to solidify their position as regional leaders.
The company have a market cap of Rs 873 crore and reported positive numbers in its Quarterly Results (Q3FY24) and nine-month results (9MFY24). The stock gave multibagger returns of over 120 per cent in just 6 months and a whopping 2,100 per cent in 3 years. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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