Penny Stock Under Rs 10 in Focus as Company Enters Into Service Contract with Raymond Lifestyle Ltd
The stock is down by 14 per cent from its 52-week high of Rs 9.50 per share while the stock is up by 70 per cent from its 52-week low of Rs 4.81 per share.
Today, shares of East West Freight Carriers Limited (earlier known as East West Holdings Ltd) gained 5 per cent to Rs 8.19 per share same as its previous closing of Rs 7.80 per share.
East West Freight Carriers Limited (EWECL) has secured a significant service contract with Raymond Lifestyle Ltd, a renowned name in the fashion and retail industry. This agreement designates EWECL as the Authorised Customs House Agent (CHA) for Raymond, responsible for clearing their goods and providing comprehensive logistics and freight services. Raymond Lifestyle Ltd, known for its iconic men's fashion brands and extensive retail network, is a leading player in the global textile market, exporting its suits to over 60 countries.
This strategic partnership will see EWECL providing a full range of logistics solutions to Raymond Lifestyle Ltd and its subsidiaries. The scope of services extends across the entire supply chain, encompassing customs clearance, transportation, warehousing, and other value-added logistics services. This contract is expected to generate substantial revenue for EWECL, with an estimated value of approximately Rs 20 crore. This collaboration marks a significant milestone for EWECL, solidifying its position as a preferred logistics partner for leading companies in the Indian market.
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About the Company
East West Freight Carriers Limited, a seasoned player in the Indian Freight Forwarding & Logistics industry, has been operating since 1976. With a rich legacy of over 45 years, the company provides top-notch global logistics and freight forwarding services. By embracing technological advancements and fostering strong relationships with industry bodies like LALA, FLATA, FFFAL, ACCAL, DACCAL, BCBA, and FIEQ, EWECL ensures seamless operations. Their extensive network of global airline and shipping line partnerships enables them to offer competitive pricing, efficient transit times, and reliable delivery solutions. Whether it's air freight, FCL, LCL, or specialized project cargo, EWECL caters to diverse client needs with tailored solutions and round-the-clock support.
According to Quarterly Results, the net sales increased by 57 per cent to Rs 68.21 crore in Q2FY25 compared to net sales of Rs 43.43 crore in Q2FY24. The company reported a net profit of Rs 0.09 crore in Q2FY25 compared to a net profit of Rs 0.09 crore in Q2FY24. In its annual results, the company reported net sales of Rs 208 crore in FY24 compared to net sales of Rs 250 crore in FY23. The company reported a net profit of Rs 7 crore in FY24 compared to a net loss of Rs 1 crore in FY23, an increase of 800 per cent.
East-West Holding Limited a micro-cap company has a market cap of over Rs 90 crore. The stock is down by 14 per cent from its 52-week high of Rs 9.50 per share while the stock is up by 70 per cent from its 52-week low of Rs 4.81 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.