1,450 per cent returns and FIIs increase stake: Board likely to announce stock split for the first time ever!
The shares of the company grew by more than 70 per cent in the last six months.
Tiger Logistics announces a board meeting on January 9th, 2024, to consider a potential stock split. The board will discuss dividing existing Rs. 10 shares into smaller units, subject to shareholder and regulatory approval. This move could boost liquidity and attract new investors, potentially benefiting the company's long-term growth.
In its recent quarterly result for the quarter ended September 30, 2023 the company posted weak results. The revenue of the company stood at Rs 53.58 crore which declined by 70.60 per cent YoY. The operating profit of the company stood at Rs 4.44, declining by 58.87 per cent YoY and the PAT of the company declined by 59.31 per cent YoY staying at Rs 3.22 crore.
Also read, This multibagger aerospace & defence stock bags new order worth Rs 7,637 crore
Shares of Tiger Logistics (India) Limited have given multibagger returns during the last three years. The shares of the company jumped from Rs 39.50 on December 24, 2020, to Rs 630 on December 22, 2023, an increase of more than 1450% in a three-year holding period. FIIs have also increased their stake in the company in September 2023.
Tiger Logistics India Limited is a third-party logistics services provider. Its business covers international freight forwarding, supply chain management, project logistics, defence logistics, and cold chain logistics. The services provided by the company include International Air Freight, International Ocean Freight, Project Logistics, Domestic Freight Services, Cold Chain Logistics, Supply Chain Logistics, and Customs Clearance.
The stock has shown tremendous growth and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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