1,275 per cent returns: This multibagger micro-cap company makes history with first-of-its-kind collaboration with ICICI Bank
The stock gave multibagger returns of 230 per cent in 2 years and a whopping 1,275 per cent returns in 3 years.
Tiger Logistics (India) Ltd and ICICI Bank have signed a partnership agreement to provide integrated banking and end-to-end logistics for exporters and importers. This is the first-of-its-kind that a global logistics company and a bank have collaborated in this way. The partnership will make it easier for exporters and importers to get competitive freight rates and a comprehensive solution for their global trade needs.
The partnership will integrate the ICICI Trade Emerge platform with Tiger Logistics' digital freight booking and management platform, FreightJar. This will allow Trade Emerge users to receive instant quotes, streamline documentation processes, and gain visibility into their shipments. They can also access quick financing options from ICICI Bank, simplifying their international trade operations.
The partnership is a significant milestone in bridging the gap between the logistics and banking sectors. It is also a sign of the growing importance of international trade for India.
In a previous announcement, the company had successfully secured a substantial government contract from Bharat Earth Movers Limited (BEML), a state-owned enterprise that manufactures rail and defence equipment. The contract, which is valued at approximately Rs 10 crore.
On Wednesday, one of the Top Gainers on BSE, shares of Tiger Logistics (India) Ltd jumped 6.93 per cent to an intraday high of Rs 478.30 per share from its previous closing of Rs 447.30. The shares of the company have a PE of 20.2x, an ROE of 27 per cent and an ROCE of 37.1 per cent with a spurt in volume by more than 3.86 times on BSE.
The company have a market cap of over Rs 500 crore. The stock gave multibagger returns of 230 per cent in 2 years and a whopping 1,275 per cent returns in 3 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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