Tiger Logistics Share Price Skyrockets: Hits New 52-Week High
In the Friday trading session, Tiger Logistics India witnessed a significant surge in its share price. The company’s shares touched a high of INR 812.65 on Friday, surpassing its previous 52-week high. This positive momentum continued on Saturday as well, with a large number of investors buying the company’s shares.
Tiger Logistics India’s market capitalization has now crossed INR 840 crore, a substantial milestone for the company. The stock had a 52-week low of INR 335. On Saturday, January 20, 2024, the share price of Tiger Logistics India was trading at INR 848.05, reflecting a 6.89% increase.
However, in the past few days, the company’s shares were under pressure due to selling. Over the last five days, the stock has witnessed a 7% decline. Nonetheless, investors have received a 30% return on their investment in Tiger Logistics shares over the past month.
Over the last six months, the company’s shares have witnessed a remarkable growth of 101%, increasing from INR 393 to INR 792. The stock was trading at INR 30 on March 27, 2020. Over the past four years, the company has provided a staggering return of 2,900% to its investors.
To expand its business in the international logistics sector, Tiger Logistics India has signed a memorandum of understanding with Power Pack Holdings Limited, a part of the Sikandar Group in Bangladesh. This joint venture aims to enhance the company’s presence in the global market.
The agreement between Tiger Logistics India and Sikandar Group will enable both companies to leverage the opportunities in the international logistics sector between India and Bangladesh. The Sikandar Group is a leading cargo service provider in Bangladesh and operates primarily in banking, insurance, healthcare, restaurants, hotels, international trade, power generation, and infrastructure development.
Tiger Logistics India will handle custom clearances, forwarding, handling, transportation, and warehousing services for Bharat Heavy Electricals Limited (BHEL), a state-owned company. The company has also signed commercial partnership agreements with Hindustan Petroleum, Bank Note Paper Mill, Hindustan Insecticides Limited, Airport Authority of India, Hindustan Aeronautics Limited, Indian Oil, Chittaranjan Locomotive Works, National Automotive Testing and R&D Infrastructure Project, and National International Industries. Additionally, Tiger Logistics India has received a significant order from A.F. Solar Energy Company.
Overall, Tiger Logistics India’s share price has shown a remarkable upward trend, reflecting the company’s strong growth and expansion in both domestic and international markets.
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