Tiger Logistics: Wins export logistics handling contract from Piaggio
The company has secured a contract from Piaggio Vehicles India to handle its export logistics solution. Following the development, the stock of Tiger Logistics was buzzing on Thursday.
Tiger Logistics aims to expand its market share in the auto sector to 70 per cent of India's total export logistics solution by 2021. Piaggio Vehicles Private Limited is a subsidiary of Piaggio & C. S.p.A, Italy. Piaggio manufactures two-wheelers and three wheelers in India.
The company's clientele includes major auto companies Honda, Hero Motor Corp, Yamaha (India), Bajaj Auto, TVS and Maruti Suzuki. The company's management is bullish about handling more projects this fiscal.
Also, Care Ratings has revised the credit rating outlook for the company's long-term and short-term bank facilities from stable to negative.
Tiger Logistics (India) Limited is a third-party logistics company with specialization in international logistics handling import and export of cargos and projects. Tiger Logistics is a provider of air logistics solutions and integrated as well as flexible ocean freight services.
On Thursday, at 14:10 hours, the stock of Tiger Logistics was quoting Rs. 88.15 per share, down by 0.84 per cent on BSE.