Heavy Buying multibagger stock under Rs 100: This micro-cap company expands its geographical reach with new branch in Bhubaneshwar!

The stock is up by 50 per cent in 1 year and generated multibagger returns of over 650 per cent in 2 years.

Shreeji Translogistics Limited (STL), an India-based surface logistics and parcel delivery service provider, has recently opened a new Branch in Bhubaneshwar, Odisha. The new branch in Bhubaneshwar represents STL's commitment to enhancing its presence in the eastern region of India. With its well-established network and expertise in the logistics industry, the company aims to cater to the increasing demand for reliable and efficient transportation and supply chain solutions in the region. This strategic expansion marks an important milestone in the company's growth and will provide significant benefits to the business and its customers.

Commenting on the announcement, the Management team of Shreeji Translogistics Limited, stated:

"We are delighted to announce the successful opening of our new branch in Bhubaneshwar, Odisha, marking a significant step towards expanding our footprint in the eastern region. This expansion brings exciting opportunities for our business and the local economy.

Our team at STL is excited to serve the local businesses and industries in Bhubaneshwar, leveraging our expertise and comprehensive range of services. With our unwavering commitment to customer satisfaction, we are confident that our presence will strengthen our position in the logistics industry.

We have the opportunity to establish strong partnerships with local businesses, providing seamless logistics support and contributing to their growth and success. Expanding our operations in Bhubaneshwar aligns perfectly with our long-term vision. With a focus on technological innovation and operational excellence, we are dedicated to delivering world-class logistics solutions and enhancing our service offerings.

We believe that our new branch will significantly contribute to the economic growth of the region by fostering trade and commerce, improving supply chain efficiency, and creating employment opportunities. With the immense potential offered by the Bhubaneshwar market, we look forward to delivering exceptional results as we continue to expand our operations.”

On Friday, shares of Shreeji Translogistics Ltd surged 0.29 per cent to of Rs 66.20 per share with an intraday high of Rs 69.90 and an intraday low of Rs 63. The shares of the company saw a spurt in volume by more than 1.70 times on BSE.

Recently, the company announced a stock split wherein it will be converting equity shares with a face value of Rs 10 each into 5 equity shares with a face value of Rs 2 each with the record date set as Wednesday, February 15, 2023.  

The company reported positive results in its quarterly and annual consolidated financial statements. In comparison to FY21, the company’s net sales rose 53.22 per cent and net profit skyrocketed 1000 per cent in FY22. The company has a market cap of Rs 414 crore with a 1-year CAGR of 104 per cent.

The stock is up by 50 per cent in 1 year and generated multibagger returns of over 650 per cent in 2 years. Investors should keep an eye on this multibagger stock.