This company is Allcargo Logistics. According to the information given to the exchange by the company, the company is selling its assets. The company will sell the logistics park for Rs 625 crore. After this news, the stock gained momentum. The stock closed at Rs 293, up 3 per cent.
The company says that the company's real estate company Transindia Real Estate will sell 10 percent stake in Jhajhar Logistics Park and other parks to Blackstone. Jhajhar Park will be sold for a total of Rs 625 crore. At the same time, the company will raise Rs 60 crore by selling stake in others.
The fall in the stock stopped
The stock was declining from the first month of the year 2023. The stock has lost 30 percent since January. At the same time, the stock has fallen 20 percent in three months. Whereas, the stock has given positive returns in three years. The stock has increased by 250 percent and now the stock has gained 10 percent in a week.
The promoters hold 69.92 per cent stake in the company. There has been no change in this for the last 5 quarters. FII i.e. Foreign Institutional Investors have been buying shares for the last 3 quarters. In September 2022, the stake was 9.22 per cent. Which increased to 10.12 percent in December. At the same time, it has increased to 10.88 percent in the March quarter.
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