Mukul Agarwal's Stock Jumped to Rs 50, Surging 12 per cent in a Single Day on the Heels of 18 per cent Volume Growth
The company grew 13 per cent year-on-year in October, continuing the positive trend from Q2 FY23-24.
Key Business Parameters for October 2023
Allcargo Terminals' Container Freight Station (CFS) volumes for October 2023 reached an impressive 54.2 thousand TEUs, marking a substantial 18 per cent increase compared to the same period last year on October 2022. Moreover, this figure represents a commendable 9 per cent growth when compared to September 2023.
The company grew 13 per cent year-on-year in October, continuing the positive trend from Q2 FY23-24.
Allcargo Terminals continued its strong performance in October, outperforming industry growth. This success is driven by its customer focus, operational excellence, and digital investments.
This update heavily affected the stock price, causing Allcargo Terminal's shares to jump 12 per cent in a day. This is the IPO listed in August 2023, which is trading at Rs 50.90, recorded a new all-time high on its price chart, and also saw the highest trading volume on Thursday. Although the company's share price issue failed and had a listing loss of around 45 per cent, the company has good fundamental factors.
The company's market capitalization stood at Rs 1,245, and its return on equity is an impressive 55 per cent. Prominent investor Mukul Agarwal has invested in this stock by 1.26 per cent, which gives new investors confidence in the company.
About Company
Allcargo Terminals is a leading logistics company in India. They have a large network of Container Freight Stations (CFS) and Inland Container Depots (ICD) nationwide. This makes them one of the biggest CFS network providers in India.
Disclaimer: The article is for informational purposes only and not investment advice.
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