1200 per cent returns and FIIs increase stake: This multibagger logistics stock bags Rs 105 crore order from Indian Railways!

Shares of this company jumped more than 150 per cent in the last six months.

AVG Logistics Limited has secured a significant contract with the Indian Railways, leasing a Parcel Cargo Express Train (PCET) for a 6-year term valued at Rs 105 crore. This dedicated train will connect businesses in Chennai and Guwahati, offering an efficient and reliable cargo transportation solution.

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The PCET will operate between Korukkupet Goods Shed in Chennai and New Guwahati Goods Shed in Guwahati, undertaking four trips per month for the next six years. The Express Train Service is designed for speed and efficiency, covering the 2500-kilometer distance between Chennai and Guwahati in just 72 hours. This contract win marks a positive development for AVG Logistics, solidifying its position in the Indian logistics sector and highlighting its commitment to providing innovative and efficient solutions for its clients.

In Q3FY24, the company posted 17.2 per cent growth in its consolidated revenue at Rs 124.77 crore compared to Rs 106.46 crore from the previous year’s corresponding quarter. The operating profit of the company stood at Rs 23.14 crore, while the PAT of the company stood at Rs 4.36 crore, from Rs 1.94 crore, last year same quarter.    

AVG Logistics Limited is one of the leading multimodal logistics solutions providers based in India. Founded in 2010, the company has rapidly grown to become a trusted partner for businesses across India. The shares of the company have gained about 1,200 per cent in the last three years and FIIs have increased their stake in the company in December, 2023.

The stock has shown tremendous growth and investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.