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Allcargo Logistics jumps on acquiring 65% stake in Nordicon Group

Allcargo Logistics jumps on acquiring 65% stake in Nordicon Group

Allcargo Logistics is currently trading at Rs. 199.05, up by 9.00 points or 4.74% from its previous closing of Rs. 190.05 on the BSE.

The scrip opened at Rs. 189.55 and has touched a high and low of Rs. 199.00 and Rs. 188.95 respectively. So far 1073434 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 199.70 on 30-Jul-2021 and a 52 week low of Rs. 92.15 on 30-Jul-2020.

Last one week high and low of the scrip stood at Rs. 199.70 and Rs. 180.00 respectively. The current market cap of the company is Rs. 4792.29 crore.

The promoters holding in the company stood at 70.01%, while Institutions and Non-Institutions held 15.72% and 14.27% respectively.

Allcargo Logistics has acquired a 65 per cent stake in Nordicon Group, a market leader in LCL (less-than-container-load) and rail consolidation segment in the Nordics region, for an undisclosed amount. The acquisition is being executed through Allcargo Belgium, a wholly-owned subsidiary of the country’s largest integrated logistics solutions provider in the private sector.

Allcargo Logistics is an India-based holding Company. The company is engaged in providing integrated logistics solutions. It offers logistics services across multimodal transport operations, inland container depot, container freight station operations, contract logistics operations etc.

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