Leading Logistics player engaged in providing an array of end-to-end logistics and supply chain solutions in India and SAARC countries hit a 20 percent upper circuit in the day’s trade following consideration for Buyback of equity shares of the firm.
Price Action
With a market capitalization of Rs. 8,842 Crores, the shares of Transport Corporation of India Limited were trading at Rs. 1,135.55 per equity share, up 9 percent from its previous day’s close price of Rs. 1,041.65 and it made an intraday high of Rs. 1,249.95 by hitting 20 percent upper circuit in the day’s trade. It has delivered a return of 45 percent in a year.
What Happened
The Board of Directors of Transport Corporation of India Limited is scheduled to meet on August 24, 2024, to consider among other things, a proposal for a buyback of the fully paid-up equity shares of the Company.
About the Company
Transport Corporation of India is engaged in providing an array of end-to-end logistics and supply chain solutions in India and SAARC countries through multiple modes, including road, rail, and sea.
It provides a wide range of customized services in Warehousing, Port Logistics, Freight Forwarding, Coastal Shipping, End-to-End Supply Chain Solutions, Integrated Multimodal Solutions across various verticals like Automobiles, Retail and CP, Hi-tech, Healthcare/ Lifesciences, and many others.
Coming to its integrated strengths and network, it has 650+ ISO Containers, 13K+ cold pallet positions, 8000+ GP containers, 10,000+ trucks, 6 coastal ships, 2300+train movement and 15million+ managed warehouse space.
Financials and Ratios
Its revenue from operations grew by 10 percent from Rs. 950 Crores in Q1FY24 to Rs. 1,045 Crores in Q1FY25, accompanied by profits of Rs. 83 Crores to Rs. 92 Crores.
In terms of Return ratios, it has reported a return on equity (ROE) of 19 percent, and a Return on capital employed (ROCE) of 19.9 percent. It has reported a debt-to-equity ratio of 0.10.
Written by: Bharath K.S
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
