Allcargo bags biggest warehouse deal with Flipkart

Gayathri Udyawar
/ Categories: Trending, DSIJ News

The stock of Allcargo Logistics surged on Wednesday as the market was buzzing that the company's subsidiary has struck a mega warehouse lease deal with e-commerce player Flipkart and sports good retailer Decathlon.

 

Allcargo's warehousing arm, Allcargo Logistics and Industrial Parks Private Limited (ALIPPL) is developing 6.5 million sq ft of warehousing space in built-to-suit (BTS) model with an investment of about Rs. 1,000, reported a leading business daily quoting the company's management. This warehousing space will add Rs. 120 crore to the company's annual rental income. The company plans to lease out approximately 3 million sq ft of space to Flipkart and 1 million sq ft to Decathlon. Allcargo will spend approximately Rs. 450 crore to customize the space for these clients and earn close to Rs. 72 crore rent, annually.

 

Reacting to this development, Allcargo Logistics was up more than 4 per cent in early morning trade on Wednesday. At 11:12 hours, the stock was cooling-off at Rs. 109.00 per share, up by 1.21 per cent, while the BSE Sensex was at 36,164.72, up by 183.79 point or half a per cent.

Rate this article:
5.0

Leave a comment

Add comment

DSIJ MINDSHARE

Mkt Commentary28-Mar, 2024

Mindshare28-Mar, 2024

Penny Stocks28-Mar, 2024

Penny Stocks28-Mar, 2024

Penny Stocks28-Mar, 2024

Knowledge

General26-Mar, 2024

MF25-Mar, 2024

General18-Mar, 2024

DALAL STREET INVESTMENT JOURNAL - DEMOCRATIZING WEALTH CREATION

Principal Officer: Mr. Shashikant Singh,
Email: principalofficer@dsij.in
Tel: (+91)-20-66663800

Compliance Officer: Mr. Rajesh Padode
Email: complianceofficer@dsij.in
Tel: (+91)-20-66663800

Grievance Officer: Mr. Rajesh Padode
Email: service@dsij.in
Tel: (+91)-20-66663800

Corresponding SEBI regional/local office address- SEBI Bhavan BKC, Plot No.C4-A, 'G' Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra.
Tel: +91-22-26449000 / 40459000 | Fax : +91-22-26449019-22 / 40459019-22 | E-mail : sebi@sebi.gov.in | Toll Free Investor Helpline: 1800 22 7575 | SEBI SCORES | SMARTODR