Logistics Stock To Offer 3 Bonus Shares Tomorrow, Shares Gain 7.03% Intraday

Small cap company operating in logistics sector, Allcargo Logistics Ltd is all set to offer 3 bonus shares for every 1 share held as tomorrow is the record date. Current market price of Allcargo Logistics share on BSE is Rs 344.10 per share with intraday gain of 7.03%. Allcargo Logistics shares gained 29.87% in last 30 days and declined 14.71% in last 1-year. Check details below:

Allcargo Logistics Record Date For Bonus Issue: Allcargo Logistics on November 10, 2023 declared bonus shares in the proportion of 3:1. The company on December 20, 2023 fixed January 2, 2024 as the record date for 3:1 bonus share. Earlier this year investor Mukul Agarwal made investments in Allcargo Logistics and Allcargo Gati. The investor owns 33,00,000 equity shares in Allcargo Logistics or 1.34% stake and 70,00,000 equity shares or 5.38% stake in Allcargo Gati.

Allcargo Logistics Declared Demerger: Boards of Allcargo Logistics Limited and Allcargo Gati Limited have given nod to the composite scheme of arrangement for restructuring of businesses under Allcargo Limited and Allcargo Gati Limited (Formerly Gati Limited), according to a BSE filing issued on December 21, 2023. As per the scheme, International Supply Chain (ISC) business will be demerged into a separate entity: Allcargo ECU Limited. This would include the India part of International Supply Chain business along with the international subsidiaries held under the ECU Worldwide NV.

Express business and Contract Logistics business would come under the resulting entity Allcargo Logistics (post ISC demerger) which will benefit from combined synergies and the shareholders of Allcargo and Allcargo Gati will get direct shareholding eliminating inefficient complex corporate structure.

As per the approved swap ratio, based on the recommendations of the independent valuers, shareholders of Allcargo Gati will get 63 shares in the resulting Allcargo Logistics entity (post ISC demerger) for every 10 shares held in Allcargo Gati. Shareholders of Allcargo will get 1:1 share in the demerged Allcargo ECU Limited and continue to hold their shares in Allcargo Logistics Limited, which will now be the resulting entity holding Express and Contract Logistics business directly. This takes into account 3:1 bonus shares approved by shareholders for Allcargo Logistics recently.

Allcargo Logistics Stock Performance & Return: Allcargo Logistics Ltd stock gained 20% in last 2-weeks, soared 26% in last 3-months, and fell 11% in last 2-years. In last 3-years, Allcargo Logistics shares surged 153% and rose 218% in last 5-years. The stock's 52-week high price is Rs 442.40 per share and 52-week low price is Rs 246.00 per share, respectively. The company has a market capitalisation of Rs 8,485.09 crore.

Disclaimer:

The stock highlights the bonus share and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.