FIIs Bought 25,061 Shares & Results on Friday, January 31, 2025: Logistics Penny Stock Under Rs 40 Jumps Over 9 Per Cent From Intraday Low
The stock is up by 41.8 per cent from its 52-week low of Rs 21.99 per share and gave multibagger returns of 500 per cent in 5 years.
On Tuesday, one of the Top Gainers on BSE & NSE, shares of North Eastern Carrying Corporation Ltd jumped over 9 per cent to Rs 31.19 per share from its intraday low of Rs 28.52 per share. The stock’s 52-week high is Rs 44.44 while its 52-week low is Rs 21.99.
The Board will declare Quarterly Results (Q3FY25) and nine-month results (9MFY25) on Friday, January 31, 2025. Additionally, in December 2024, FIIs bought 25,061 shares and increased their stake to 0.04 per cent compared to 0.01 per cent in September 2024.
Earlier Results: According to quarterly results, the company reported net sales of Rs 8194 crore in Q2FY25 compared to net sales of Rs 73.84 crore in Q2FY24, an increase of 11 per cent. The net profit increased by 149.3 per cent to Rs 2.87 crore in Q2FY25 compared to Rs 1.15 crore in Q2FY24. In its half-yearly results, the net sales increased by 1.20 per cent to Rs 159.58 crore and net profit increased by 148 per cent to Rs 6.55 crore in H1FY25 compared to H1FY24.
North Eastern Carrying Corporation Ltd (NECCL), founded in 1984, is a prominent transportation company in India. It provides a comprehensive suite of freight forwarding, logistics, and goods transport services. With a network of over 250 branches and advanced ERP software, NECCL efficiently handles a wide range of transportation needs, from small parcels to large-scale projects. Their expertise encompasses bulk movements, specialized transportation, and warehousing solutions. NECCL has established strong partnerships with major corporations such as Bajaj Auto, Minda Industries, ITC Ltd and Hindalco Industries, demonstrating its commitment to delivering reliable and innovative supply chain solutions for over 56 years.
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NECC's business operations encompass a wide range of services, including Express PTL/Parcel Load, Full Truckload, Bulk Transportation, ODC Movements, and Warehousing & Distribution. To further enhance its offerings, NECC is developing a state-of-the-art 183,000 sq. ft. warehouse facility near Gurugram. This investment, along with strategic investments in SG Green Logistics and its fleet of electric vehicles, aligns with NECC's commitment to sustainability and innovation. By embracing green logistics and advanced technologies, NECC is positioning itself as a market leader, ready to take on larger contracts while contributing to a more sustainable future for the logistics industry.
The company has a market cap of Rs 300 crore. The stock is up by 41.8 per cent from its 52-week low of Rs 21.99 per share and gave multibagger returns of 500 per cent in 5 years. Investors should keep an eye on this logistics stock.
Disclaimer: The article is for informational purposes only and not investment advice.