Allcargo Logistics rises over 3% in two days

Allcargo Logistics rose 1.73% to Rs 143.70, extending gains for the second day. The stock has added 3.01% in two sessions from its recent closing low of Rs 139.50 on 15 June 2021.

In an exchange filing made after market hours yesterday, Allcargo Logistics said that its board will meet on 23 June 2021 to consider Q4 March 2021 results.

The board will also consider plans to raise upto Rs 1,000 crore through issue of secured/unsecured debentures and/or bonds, subject to approval of the members at the ensuing annual general meeting.

The company reported 68.03% drop in consolidated net profit to Rs 14.04 crore on a 53.05% rise in net sales to Rs 2,734.68 crore in Q3 FY21 over Q3 FY20.

Allcargo Logistics is a logistics firm. Its services comprise global multimodal transport operations, pan-India container freight stations, inland container depots, third-party logistics, warehousing, contract logistics and logistics parks.

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