10:1 stock split in FY24: Multibagger penny stock under Rs 40 from the logistics sector hit the upper circuit after FII bought 19,69,033 shares!
The stock gave multibagger returns of 583 per cent in 3 years and a whopping 1,075 per cent in a decade.
Today, shares of Tiger Logistics (India) Ltd hit a 5 per cent upper circuit to an intraday high of Rs 39.97 per share from its previous closing of Rs 38.07. The stock’s 52-week high is Rs 87 and its 52-week low is Rs 32. The company has not made any significant announcements of late. Hence, the rally in the share price could be driven purely by the market forces. The shares of the company saw a spurt in volume by more than 2 times on BSE.
Recently, an FII - North Star Opportunities Fund VCC-Bull Value Incorporated VCC Sub-Fund bought 19,69,033 shares at Rs 32.9 per share while the sell was Radiant Global Fund-Class B Participating Shares sold 14,69,033 shares at Rs 32.9 per share via bulk deal.
Tiger Logistics (India) Limited, a BSE-listed international logistics company with over 24+ years of experience, announced the launch of FreightJar 2.0. This major upgrade to its proprietary freight booking and management platform will enable businesses of all sizes to handle their import shipments, including FCL (Full Container Load), LCL (Less than Container Load), and Air Freight, with enhanced ease and efficiency. This is in addition to its existing capabilities for FCL exports.
According to Quarterly Results, the net sales increased by 52 per cent to Rs 92.71 crore and net profit increased by 83 per cent to Rs 4.03 crore in Q4FY24 compared to Q4FY23. In its annual results, the company reported net sales of Rs 240 crore and net profit of Rs 13 crore in FY24.
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Additionally, the company ex-traded stock split of the company’s 1 (one) equity share having a face value of Rs 10 each into 10 (ten) equity shares of the company having a face value of Rs 1 each as of the record date. The ex-record date was Monday, March 04, 2024. Furthermore, FIIs have increased their stake to 8.70 per cent in June 2024 compared to 8.70 per cent in March 2024.
The company have a market cap of over Rs 420 crore. The stock gave multibagger returns of 583 per cent in 3 years and a whopping 1,075 per cent in a decade. Investors should keep an eye on this micro-cap logistics stock.
Disclaimer: The article is for informational purposes only and not investment advice.
Also Read: Upper circuit & 52-week high alert: FIIs bought 76,15,502 shares of this debt-free multibagger stock under Rs 100; keep under the radar!