10:1 stock split: FII bought 19,69,033 shares of this multibagger penny stock under Rs 40 from the logistics sector; Hit upper circuit on July 26
The stock gave multibagger returns of 565 per cent in 3 years and a whopping 1,050 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 38.07 per share from its previous closing of Rs 36.26. The stock’s 52-week high is Rs 87 and its 52-week low is Rs 32. The company has not made any significant announcements of late. Hence, the rally in the share price could be driven purely by the market forces.
Recently, an FII - North Star Opportunities Fund VCC-Bull Value Incorporated VCC Sub-Fund bought 19,69,033 shares at Rs 32.9 per share while the sell was Radiant Global Fund-Class B Participating Shares sold 14,69,033 shares at Rs 32.9 per share via bulk deal.
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.
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Earlier, Tiger Logistics' freight booking and management platform, FreightJar, saw explosive growth in its first year, attracting over 500 exporters across diverse industries. The newly launched FreightJar 2.0 seamlessly integrates with existing systems for a smooth user experience, specifically targeting both Indian exporters and importers. This upgrade unlocks a global network of over 5,000 freight forwarders and agents, particularly in major economic regions, making it a game-changer for SMEs. By offering competitive rates previously exclusive to large corporations & a user-friendly interface for requesting quotes, booking shipments, tracking cargo and managing documents, FreightJar empowers SMEs to navigate international shipping with ease. Furthermore, the platform is backed by Tiger Logistics' expertise and extensive network, ensuring smooth cargo movement and minimizing logistical challenges.
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.
The company have a market cap of over Rs 400 crore. The stock gave multibagger returns of 565 per cent in 3 years and a whopping 1,050 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.
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