AVG Logistics Ltd bags Rs. 150 crore contract from Indian Railways for operations of Leased Parcel Express Train

AVG Logistics Limited has secured a contract, valued at ~INR 150 Cr over 6 years, for lease of Parcel Cargo Express Train (PCET) from the Indian Railways. This special train, connecting Bangalore to Ludhiana (Punjab), will complete one round trip every week over the next 6 years, totaling 313 trips. The Express Service will cover the distance in ~72 hours ensuring expeditious, seamless connectivity between the important locations. Ludhiana is an invaluable addition to our railway network, opening doors to a gigantic textile market -largest hosiery manufacturing, cotton textiles, cycle manufacturing amongst others.

Commenting on the order, Mr. Sanjay Gupta, Managing Director & CEO, AVG Logistics Limited, said, "This initiative marks a significant partnership with Indian Railways and underscores our commitment to provide efficient end to end cargo transportation services. I am delighted to inform you all that this takes us a step closer to our sustainability goals, adding to the share of green logistics in our revenue portfolio. Earning revenue of ~INR 150 crores through this contract will not only boost our revenue but also fuel our motivation to undertake many more such ambitious projects and elevate our financial performance. We look forward to the rest of the year with renewed vigour, excited to create value for the company, stakeholders, and the environment."

Shares of AVG Logistics Limited was last trading in BSE at Rs. 319.90 as compared to the previous close of Rs. 316.55. The total number of shares traded during the day was 13420 in over 711 trades.

The stock hit an intraday high of Rs. 323.00 and intraday low of 313.10. The net turnover during the day was Rs. 4290518.00.

Source : Equity Bulls

Keywords

AVGLogistics INE680Z01018 OrderWin IndianRailways LeasedParclExpressTrain