Company Update: Allcargo Logistics Ltd - BUY - TP Rs.145 - Kotak

After a weak FY18, the new financial year has begun on a healthy note for ALL with strong quarterly performance in Q1FY19. Strong volume trend was witnessed in both the key segments of Multimodal Transport Operations (MTO) and Container Freight station (CFS) with stable realisations. However the project engineering division continued to report losses for ALL dragging the overall performance of the company. The current quarter outperformance has given us confidence of decent performance in FY19. Also, we believe that most of negatives have got factored at the current valuation. Maintain estimates with an unchanged target price of Rs 145 at 15x FY20 earnings with a BUY rating.

Shares of ALLCARGO LOGISTICS LTD. was last trading in BSE at Rs.120 as compared to the previous close of Rs. 120.7. The total number of shares traded during the day was 22120 in over 340 trades.

The stock hit an intraday high of Rs. 124.2 and intraday low of 120. The net turnover during the day was Rs. 2693063.

Source : Equity Bulls

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