Multibagger shipping & logistics penny stock under Rs 40 jumps after entering a strategic collaboration with Ocean Voyage Shipping Line LLC
From Rs 0.44 per share to Rs 36.69 per share, the stock gave multibagger returns of 9,000 per cent in a decade.
Lancer Container Lines Ltd announce a strategic partnership with Ocean Voyage Shipping Line LLC (OVSL), a prominent Dubai-based company specializing in vessel chartering and allied operations. OVSL's experienced team will complement Lancer's existing operations, driving innovation and excellence within the shipping industry. This collaboration is poised to significantly boost Lancer's growth over the next three years, expanding margins as operational scale increases. The company views this partnership as a crucial step in its global expansion strategy, ultimately enhancing shareholder value. Further updates, including the execution of the Charter Party Agreement, will be promptly communicated to the BSE and all stakeholders.
In conclusion, Lancer Container Lines Ltd.'s strategic alliance with Ocean Voyage Shipping Line LLC marks a significant milestone in the company's journey. This collaboration is expected to fuel growth, improve operational efficiency, and solidify Lancer's position as a key player in the global shipping industry. The company remains committed to delivering value to its shareholders through innovative partnerships and strategic initiatives.
Earlier, Lancer Container Lines Ltd announced a strategic acquisition of Bulkliner Logistics Limited (BLL), a key player in Indian bulk liquid logistics. Valued at up to Rs 12.03 crore, this acquisition, through a cash and share swap deal, will bolster Lancer's logistics capabilities. Concurrently, Lancer has proposed a preferential share issue to its promoter group, converting outstanding unsecured loans worth Rs. 41.91 crore into 99,80,357 equity shares at Rs. 42 per share. This move aims to strengthen the company's financial position and fuel future growth.
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About the Company
Lancer Container Lines Ltd is in the business of shipping and logistics services in India and abroad. The company has a market cap of Rs 874 crore with a 5-year stock price CAGR of 75 per cent. Additionally, the company reported positive numbers in its Quarterly Results and annual results.
On Wednesday, shares of Lancer Containers Lines Ltd gained 2.95 per cent to Rs 36.69 per share from its previous closing of Rs 35.64 per share with an intraday high of Rs 37.50 per share and an intraday low of Rs 35.14 per share. The stock has a 52-week high of Rs 110 per share and a 52-week low of Rs 28.12 per share. The company's shares saw a spurt in volume by more than 1.23 times on BSE.
The shares of the company have an ROE of 20 per cent and a ROCE of 17 per cent. From Rs 0.44 per share to Rs 36.69 per share, the stock gave multibagger returns of 9,000 per cent in a decade. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.