Aegis Logistics gains on selling 40% stake in Singapore based WOS for $5.85 million

28 Oct 2014 Evaluate

Aegis Logistics is currently trading at Rs. 347.50, up by 1.00 points or 0.29% from its previous closing of Rs. 346.50 on the BSE.

The scrip opened at Rs. 346.20 and has touched a high and low of Rs. 347.50 and Rs. 342.55 respectively. So far 1925 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 416.50 on 19-Sep-2014 and a 52 week low of Rs. 138.60 on 21-Feb-2014.

Last one week high and low of the scrip stood at Rs. 353.00 and Rs. 315.25 respectively. The current market cap of the company is Rs. 1152.30 crore.

The promoters holding in the company stood at 62.64% while Institutions and Non-Institutions held 8.15% and 29.21% respectively.

Aegis Logistics has now completed all the necessary formalities and executed all transaction documents for completion of Joint Venture and selling 40% of its equity ownership in its wholly owned subsidiary, Aegis Group International, Singapore, to ITOCHU Petroleum Co., (Singapore) for a total consideration of $5.85 million.

The new joint venture with ITOCHU Corporation will enable the company to significantly expand and scale up its LPG division by allying with one of the gas majors in the world. This should result in a sizeable boost to Aegis’ sales growth, earnings and size in the medium term.

 

Aegis Logistics Share Price

830.95 75.15 (9.94%)
20-Dec-2024 16:59 View Price Chart
Peers
Company Name CMP
Allcargo Logistics 51.13
TVS Supply Chain Sol 173.35
Container Corp 769.10
Mahindra Logistics 375.25
Transport Corp. 1087.55
View more..
© 2024 The Alchemists Ark Pvt. Ltd. All rights reserved. MoneyWorks4Me ® is a registered trademark of The Alchemists Ark Pvt. Ltd.