This Mahindra Group stock is among the top gainers on September 14

The Mahindra Logistics Ltd stock have risen 9.21 per cent on the day.

On September 14, as of 3 pm, the Mahindra Logistics Ltd stock has risen 9.21 per cent and is trading at Rs 537. The stock opened at Rs 490.6 and so far, reached an intraday high and low of Rs 543.7 and Rs 485.95, respectively. The scrip is rallying as the company recently announced the opening of new warehouse in Nashik region. 

Mahindra Logistics Ltd is a provider of integrated logistics and mobility solutions. A variety of industries, including automotive, engineering, consumer products, pharmaceuticals, telecommunications, commodities, and e-commerce, benefit from the firm's expertise in supply chain management. It operates in more than 12 Indian cities and deploys 6000+ drivers and 5000+ vehicles daily. 

The company’s June quarter performance was exceptional. It reported revenue of Rs 1200 crore for Q1FY23, up 36 per cent YoY. The net profit for the first quarter of FY23 was Rs 13.64 crore, more than four times the Rs 3 crore reported for the first quarter of FY22. Additionally, the net profit margin increased YoY from 0.34 per cent in Q1FY22 to 1.14 per cent in Q1FY23. The company's ROE, ROCE, and dividend yield were 5.98 per cent, 8.26 per cent, and 0.41 per cent, respectively, as per the FY22 period ending. 

The company is now trading at a PE multiple of 112x and has a market capitalization of Rs 3797 crore. The 52-week high and low of the stock are Rs 814 and Rs 391, respectively.