10:1 Stock Split: Back-to-back upper circuits in this multibagger logistics stock at Rs 44.94; FIIs bought 7.97 per cent stake in FY24

The stock gave multibagger returns of 850 per cent in 3 years and a whopping 1,375 per cent in a decade.

Today, shares of Tiger Logistics (India) Ltd hit a 5 per cent upper circuit to an intraday high of Rs 44.94 per share from its previous closing of Rs 42.80. The stock’s 52-week high is Rs 87 and its 52-week low is Rs 34.40 with an ROE of 27 per cent and an ROCE of 38 per cent. In the recent trading sessions, the stock has been hitting back-to-back upper circuits.

Tiger Logistics (India) Limited, a BSE-listed international logistics company with over 24+ years of experience, announced the launch of FreightJar 2.0. This major upgrade to its proprietary freight booking and management platform will enable businesses of all sizes to handle their import shipments, including FCL (Full Container Load), LCL (Less than Container Load), and Air Freight, with enhanced ease and efficiency. This is in addition to its existing capabilities for FCL exports.

According to Quarterly Results, the net sales increased by 52 per cent to Rs 92.71 crore and net profit increased by 83 per cent to Rs 4.03 crore in Q4FY24 compared to Q4FY23. In its annual results, the company reported net sales of Rs 240 crore and net profit of Rs 13 crore in FY24.

Additionally, the company ex-traded 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 the record date. The ex-record date was Monday, March 04, 2024.  Furthermore, FIIs have increased their stake to 8.19 per cent in March 2024 compared to 0.22 per cent in March 2023.

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Earlier, the company announced that FreightJar had grown significantly in its first year. Over 500 exporters from various industries, including automotive, textiles, and food production, have already begun using the platform. This latest version, FreightJar 2.0, is a major upgrade that integrates seamlessly with existing technology. This makes it easy for both exporters and importers in India to get started using the platform right away. Additionally, FreightJar boasts a global network with over 5,000 freight forwarders and agents, particularly concentrated in key economic regions like the US, Europe, and Asia.

FreightJar 2.0 is a game-changer for small and medium businesses (SMEs) looking to participate in international shipping. Traditionally, competitive rates for freight have only been available to large corporations. This platform provides SMEs with a level playing field by offering these same rates. The user-friendly interface makes the entire logistics process much simpler. SMEs can request and compare quotes, book shipments, track their cargo in real-time, and even automate necessary documentation – all within a single platform with multilingual support. Furthermore, FreightJar is backed by the expertise and global network of Tiger Logistics, a leader in international logistics since 2000. This ensures smooth cargo movement and minimizes any on-ground challenges that businesses might encounter.

The company have a market cap of Rs 450 crore. The stock gave multibagger returns of 850 per cent in 3 years and a whopping 1,375 per cent in a decade. Investors should keep an eye on this micro-cap logistics stock.

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