Promoters bought 39,55,062 shares: Logistics penny stock under Rs 40 hit 10 per cent upper circuit; PAT jumps 149.3 per cent in Q2FY25

The stock is up by 65.30 per cent from its 52-week low of Rs 21.99 per share and gave multibagger returns of 655 per cent in 5 years.

On Thursday, one of the Top Gainers on BSE, shares of North Eastern Carrying Corporation Ltd hit 10 per cent upper circuit to Rs 36.35 per share from its previous closing of Rs 33.05 with a spurt in volume by more than 3.68 times. The stock’s 52-week high is Rs 44.44 while its 52-week low is Rs 19.10.

North Eastern Carrying Corporation Ltd (NECCL) is a transportation company founded in 1984. With a comprehensive network of over 250 branches across India, NECCL offers a wide range of freight forwarding, logistics, and goods transport services. From small parcels to large-scale project consignments, their expertise covers diverse transportation needs. Utilizing advanced ERP software, NECCL provides efficient freight management and tailored logistics solutions. Their services extend to various sectors, including bulk movements like mining logistics and specialized transportation of over-dimensional consignments.

To complement its transportation services, NECCL offers warehousing and third-party logistics solutions with a substantial warehousing space of over 1.5 million square feet. This comprehensive approach enables them to provide end-to-end supply chain management, including storage and timely delivery. With a distinguished clientele comprising major corporations like Bajaj Auto, Minda Industries, and others, NECCL has solidified its position as a reliable and trusted partner in the transportation and logistics industry. The company has a market cap of over Rs 340 crore.

According to Quarterly Results, the company reported net sales of Rs 8194 crore in Q2FY25 compared to net sales of Rs 73.84 crore in Q2FY24, an increase of 11 per cent. The net profit increased by 149.3 per cent to Rs 2.87 crore in Q2FY25 compared to Rs 1.15 crore in Q2FY24. In its half-yearly results, the net sales increased by 1.20 per cent to Rs 159.58 crore and net profit increased by 148 per cent to Rs 6.55 crore in H1FY25 compared to H1FY24.

The promoters of the company bought 39,55,062 shares and increased their stake to 54.19 per cent in September 2024 compared to 52.30 per cent in June 2024. The stock is up by 65.30 per cent from its 52-week low of Rs 21.99 per share and gave multibagger returns of 655 per cent in 5 years. Investors should keep an eye on this logistics stock.

Disclaimer: The article is for informational purposes only and not investment advice.