Multibagger logistics stocks at Rs 86.40 hit 52-week high as company receives orders from Royal Transport, Bhavnagar, Gujarat & from Vera Synthetic Ltd
The stock gave multibagger returns of 168.32 per cent from its 52-week low of Rs 32.20 per share.
Gconnect Logitech and Supply Chain Limited (GCLSCL) has secured two new logistics and material handling contracts.
The first contract is with Royal Transport based in Bhavnagar, Gujarat. The agreement entails the loading, unloading, and transportation of Precipitated Silica and AluminoSilcates, products manufactured by Madhu Silica Private Limited. These materials will be transported from Bhavnagar to various dealers located in South India, with an average monthly quantity of 600 metric tonnes. The contract is domestic in nature, with payment terms agreed upon on a regular basis. The specific timeline for order execution will be determined mutually by both parties, commencing from July 15, 2024.
The second contract is with Vera Synthetic Limited, also situated in Bhavnagar, Gujarat. Similar to the first contract, GCLSCL will be responsible for the loading, unloading, and transportation of products, specifically PP Fishing Net, twine rope straps, and industrial yarn. These materials will be distributed to dealers across Gujarat, with an average monthly quantity of 800 metric tonnes. This contract is also domestic, with regular basis payment terms. The execution timeline will be mutually decided and will commence on July 15, 2024.
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About the Company
Gconnect Logitech and Supply Chain Limited, established in July 2022, specializes in surface logistics, offering bulk loads, Full Truck Loads (FTL), and dedicated load services. Their asset-light model relies on third-party vehicles to cater to a customer base of 24 clients, including long-term partnerships with over eight. The company serves diverse industries like metals, fabrics, FMCG, auto components, chemicals, and pharmaceuticals, with a fleet of 23 vehicles managed through four fleet management firms, allowing them to handle multiple pickups for dedicated load services. The company has a market cap of Rs 32 crore.
On Friday, shares of Gconnect Logitech and Supply Chain Limited gained 4.60 per cent and made a fresh new 52-week high of Rs 86.40 per share from its previous closing of Rs 82.60. The stock gave multibagger returns of 168.32 per cent from its 52-week low of Rs 32.20 per share. 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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