Shares of this small-cap company jumped 5 percent in Thursday’s trading session after the board set a record date for the 3:1 bonus issue.
With a market capitalisation of Rs. 6,934 crores, the shares of Allcargo Logistics Ltd started Thursday’s trading session positively at Rs. 273.35 compared to its previous close of Rs. 272.35. The shares hit a high of Rs. 286.95, gaining around 5 percent and currently trading at Rs. 281.15 apiece.
Such a positive movement was observed after the company in an exchange filing announced a record date for the issuance of the bonus issue. The Board of Directors of the company has fixed Tuesday, January 2, 2024, as the record date to ascertain the eligibility of shareholders for allotment of bonus shares in the proportion of 3:1 i.e. 3 new equity shares of Rs. 2 each for every 1 existing equity share of Rs. 2 each held by the shareholders of the Company.
Coming onto the company’s financial statements, the revenue increased marginally by 1 percent from Rs. 3,271 crores in the June quarter to Rs. 3,307 crores during the financial September quarter. On a contrasting note, the net profits declined from Rs. 119 crores to Rs. 16 crores during the same timeframe.
Coming onto the important financial ratios, the return on equity decreased from 30.27 percent during FY21-22 to 21.92 percent during FY22-23. In addition, the return on capital employed declined from 26.03 percent to 23 percent during the same period.
According to the BSE data, Ace Investor Mr Mukul Agrwal, entering the stock in September 2021, currently holds 33 lakh equity shares equivalent to a 1.34 percent stake in this company. The current holding value of his investment amounts to Rs. 93.2 crores.
Headquartered in Mumbai, Allcargo Logistics was incorporated in 1993. The company provides integrated logistics solutions and specialized logistics services across multimodal transport operations, inland container depots, container freight station operations, contract logistics operations and project and engineering solutions.
Written By Vaibahv Patil
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.
