Allcargo Global Commences Operations at new CFSs at Chennai & Mundra

Allcargo Global Logistics Ltd has announced that the Company has completed all activities relating to setting up of its Container Freight Stations (CFS) at Chennai, Tamil Nadu and Mundra, Gujarat. Each of these CFSs have been set up on a 9 acres of land having a capacity of handling 50,000 TEUs per annum in the first phase. The Customs Department has issued notifications declaring both these CFSs as Customs Notified Area for carrying out such activities.

Both these CFSs have commenced commercial operations on April 24, 2007. Thus, the Company has now three CFSs including the one which is operational since 2003 at Uran, Raigad-District near Jawaharlal Nehru Port Trust.

The stock closed the day at Rs.1044, up by Rs.4.35 or 0.42%. The stock hit an intraday high of Rs.1049.95 and low of Rs.1044. The total traded quantity was 49 compared to 2 week average of 508.

Source : Equity Bulls

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