In Tuesday’s session, the share price of a company engaged in the transportation and logistics business moved up by 5.1 percent to hit an intraday high at Rs. 61.5 on BSE, after receiving a contract for bulk transportation from Sunflag Iron & Steel Company Limited.
With a market cap of Rs. 125.4 crores, at 03:09 p.m., the shares of Orissa Bengal Carrier Limited were trading in the green at Rs. 59.48, up by 1.6 percent, compared to its previous closing price of Rs. 58.53.
What’s the news:
According to the latest regulatory filings with the stock exchanges, Orissa Bengal Carrier Limited (OBCL) has entered into a contract for the transportation of nearly 26,000 Metric Tons of materials of Sunflag Iron & Steel Co. Limited.
Further, the company highlights that the contract is in the ordinary course of business and none of the Promoter/Promoter Group has any interest in the aforesaid contract. The contract does not fall within the ambit of related party transactions.
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Incorporated in 1984, Sunflag Iron & Steel Co. Limited is a listed small-cap company engaged in the business of manufacturing and sale of special steel rolled products having its manufacturing facility located at Bandara, Maharashtra.
Previous News:
On 29th April, OBCL entered into a contract for the transportation of nearly 1.8 lakh Metric Tons of materials of Ambuja Cement Limited.
On 5th August, OBCL entered into a contract and accepted the Letter of Intent (LoI) for the transportation of around 15,000 Metric Tons of materials of Vedanta Limited.
Financials:
Financially, the company experienced significant growth in its revenue from operations, showing a quarter-on-quarter rise of 5.2 percent from Rs. 71.7 crores in Q4 FY23-24 to Rs. 75.4 crores in Q1 FY24-25.
During the same period, the company’s net profit improved significantly, turning around from a loss of Rs. 1.92 crores to a profit of Rs. 1.02 crores.
In terms of return ratios, Orissa Bengal Carrier Limited has reported a return on equity (ROE) of 4.12 percent, and a return on capital employed (ROCE) of 6.88 percent in FY23-24.
Stock Performance
The stock has delivered positive returns of nearly 15.8 percent in one year. However, the shares of Orissa Bengal Carrier Limited have given negative returns of 4.5 percent in the last six months, as well as 4.4 percent returns year-to-date.
About the company:
Incorporated in 1994, Orissa Bengal Carrier Limited is engaged in the transportation and logistics business serving a broad range of industries, including steel, coal, aluminium, cement, petrochemicals, paper, marble, tiles, infra, textile and FMCG.
The company is engaged in providing services including Full Truck Load Transport Services, Parcel and Part Truck Load Services or less than Truck Load (LTL).
Written by Shivani Singh
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