Chartered Logistics gets going

We do not hear much about Chartered Logistics, a company, which as the name suggests, is into logistics, surface transport to be more specific. Its stock price is in the limelight today going up over 3% at Rs.21.35, with 52-week high being at Rs.28.

The company announced today morning about receipt of some very good orders. It is a total of 5 orders, summing up to Rs.34 crore. The biggest order of Rs.17 crore is from Vedanta to be executed in 6 months; Rs.4.25 crore from Kalpataru Power to be completed in 6 months; Rs.8 crore from India Synthetic Rubber to be completed in one year; Rs.2 crore from GSFC and Rs.2.5 crore from GNFC – both to be executed in one year.

The company had ended Q1FY17 on a very optimistic note with a net profit of Rs.3 crore v/s loss in Q4 and this is 50% of entire FY16 net profit of Rs.6 crore. Promoters hold 57.49% stake