Allcargo on the rise

Allcargo Logistics, in an interview with The Hindu said that it is looking at a potential entry into container terminal operation business to tap synergies with the container freight stations (CFS) and inland container depots (ICD) the firm runs across India.

This is just a thought as of now because the company does not have any capex on the drawing board.

The company is also evaluating key locations on western and eastern dedicated freight corridors for setting up private freight terminals/ICDs on PPP basis.

The stock price reacted positively to this news in the early trades, rising almost 2.5% to hit an intraday high at Rs.260.60 before profit booking pushed the stock in the red, currently trading at Rs.254. Its 52-week high is at Rs.265.