Mahindra Logistics inches up on commencing cargo charter operations in Middle East

Mahindra Logistics is currently trading at Rs. 367.50, up by 0.25 points or 0.07% from its previous closing of Rs. 367.25 on the BSE.

Mahindra Logistics
Mahindra Logistics

The scrip opened at Rs. 363.35 and has touched a high and low of Rs. 369.75 and Rs. 363.35 respectively. So far 501 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 567.30 on 23-Sep-2022 and a 52 week low of Rs. 349.90 on 29-Mar-2023.

Last one week high and low of the scrip stood at Rs. 372.35 and Rs. 362.95 respectively. The current market cap of the company is Rs. 2647.33 crore.

The promoters holding in the company stood at 58.09%, while Institutions and Non-Institutions held 30.18% and 11.72% respectively.

Mahindra Logistics has commenced cargo charter operations in the Middle East, marking its foray into the overseas market. The charter business will be an independent division serving customers and partners across multiple verticals and geographies.

It will service the Middle East region from its headquarter set up in Dubai. With this launch, the company will augment freight forwarding with cargo charter operations partnering with customers in electronics, consumer durables, pharma and engineering.

Mahindra Logistics provides logistics solutions, warehousing facilities, freight forwarding and supply chain management services. It also provides people transport solutions, a specialised line of business which helps corporate clients move employees to and from the workplace.