Sical Logistics secures coal mining contract, stock advances

The stock of Sical Logistics, an integrated logistics service provider, on Thursday soars almost 8 per cent after the company announced that it has secured a contract worth Rs. 363.4 crore from Mahanadi Coalfields Limited.

This contract is for extraction of coal or coal measure strata and allied transportation activities at Hingula OCP, Hingula Area for a period of 3 years to extract 16.20 million Cu.M. The contract price is including GST.

The stock of Sical opened gap up at Rs. 159.1 apiece as against its previous close of Rs. 151.6 per share. Later it touched an intraday high of Rs. 163.2 which represents a nearly 8 per cent jump from its previous close. But later it cooled down and closed for the day at Rs. 158.8 apiece, up by almost 4.8 per cent. 

Sical Logistics is a major integrated logistics solutions provider with 50 years experience. Sical was acquired by Coffee Day Group in 2011. Coffee Day Group holds 52.83 per cent stake in the company. Sical Logistics operates through its division including port handling, road logistics, retail supply chain solutions, customs house agency, ship agency and goodwill travels division, shipping division and goodwill travels division.