Promoters Bought 39,55,062 Shares: Logistics Penny Stock Under Rs 40 Jumps 11.9 Per Cent; Check Business Update Inside
The stock is up by 78.7 per cent from its 52-week low of Rs 21.99 per share and gave multibagger returns of 700 per cent in 5 years.
On Monday, one of the Top Gainers on BSE, shares of North Eastern Carrying Corporation Ltd jumped 11.9 per cent to Rs 39.30 per share from its previous closing of Rs 35.11 with a spurt in volume by more than 7.06 times. The stock’s 52-week high is Rs 44.44 while its 52-week low is Rs 21.99.
BUSINESS UPDATE
For 56 years, NECC has been a trusted leader in the logistics industry, consistently delivering reliable and innovative solutions. Over the decades, the company has expanded its services and built strong partnerships with industry giants, making it a vital part of their supply chain ecosystems. NECC is proud to partner with esteemed organizations such as ITC Ltd., Hindalco Industries, Gas Authority of India Ltd., Mankind Pharma, Intas Pharma, Cipla Ltd., Valvoline Cummins, Avantor, Duraline Industries, HFCL Ltd., Tata Steel, Tata Consumer Products, APL Apollo Tubes Ltd., Patel Engineering, HCC, NCC, TVS, and Otis Elevators. These enduring partnerships are a testament to NECC’s commitment to excellence and its ability to meet diverse logistics needs across industries.
NECC's business operations span multiple verticals, including Express PTL/Parcel Load, Full Truckload Services, 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 in Tauru, near Gurugram. This facility, built on 5 acres of land, will feature multi-level racking systems, housing facilities for staff, modern electric material handling equipment, and a 2 MW rooftop solar power installation. Fully funded from the company’s reserves, the project is expected to significantly boost profitability and operational efficiency by lowering costs for first- and last-mile deliveries, particularly when utilizing electric trucks.
In its commitment to sustainability, NECC has also invested strategically in SG Green Logistics, a pioneer in sustainable trucking solutions with heavy-duty electric vehicles (EVs). SG Green has already secured 50 EV trucks, cranes, material handling equipment, and charging stations at multiple locations across India. This investment aligns with NECC’s vision of electrifying short-route trucking in major cities, contributing to the decarbonization of logistics. By integrating EV technology early, NECC is positioning itself as a market leader, equipped to take on larger contracts while maintaining its commitment to green logistics. This forward-thinking approach ensures NECC remains at the forefront of innovation, delivering value to its partners and advancing the future of the logistics industry.
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About the Company
NECCL, a leading transportation company established in 1984, offers comprehensive freight forwarding, logistics, and goods transport services across India. With a vast network of 250+ branches and advanced ERP software, NECCL efficiently handles diverse transportation needs, from small parcels to large-scale projects. Their expertise extends to bulk movements, specialized transportation, and warehousing solutions. Partnering with major corporations like Bajaj Auto and Minda Industries, NECCL provides reliable, end-to-end supply chain management. The company has a market cap of Rs 360 crore.
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.
The company's promoters bought 39,55,062 shares and increased their stake to 54.19 per cent in September 2024 compared to 52.30 per cent in June 2024. The stock is up by 78.7 per cent from its 52-week low of Rs 21.99 per share and gave multibagger returns of 700 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.