Tiger Logistics (India) has bagged an order from the government. The logistics solutions provider has secured another substantial tender from state-run entity Bharat Heavy Electricals Limited (BHEL), pertaining to export of goods by air. The company informed about the same through an exchange filing.
The company will be handling import & export by sea and will provide services like custom clearance, forwarding, handling, transportation, and warehousing services to BHEL, said the exchange filing. “In other words, the company will provide complete logistics solutions to BHEL up to the scope of the tender,” it added.Shares of Tiger Logistics (India) rebounded about 9 per cent from day’s low at Rs 748.20 to Rs 813.5 on Tuesday, commanding a total market capitalisation of more than Rs 850 crore. The scrip had settled at Rs 830.65 in the previous trading session on Monday. The stock is up about 150 per cent from its 52-week low at Rs 335 hit in March 2023.
This recent government project is a noteworthy addition to the series of other successful government projects that company has managed over the years. Some of the notable projects include Hindustan Petroleum Corporation (HPCL), Hindustan Insecticides Limited (HIL), Airports Authority of India (AAI), Hindustan Aeronautics (HAL), Bharat Earth Movers Limited (BEML) and more.Earlier this month, the company board of Tiger Logistics (India) had announced sub-division of its equity shares during the session after its board meeting. The company board has announced a stock split in 1:10 ratio. However, it has not announced the record date for the same.Tiger Logistics (India) is an international logistics player known for its expertise in handling the import and export of cargo and projects. It has a very strong base of approximately 50 agents and partners all over the world. Its competitive edge lies in its asset light model and providing a one-stop solution to customers for international trades.