Tiger Logistics board members will meet on January 9 to consider the share split. The board will discuss the existing share split. 10 shares will be divided into smaller units. The announcement is subject to regulatory approval. The move will boost the company’s liquidity and attract new investors. The move will also benefit the company’s long-term growth.
According to the recent quarterly results report for the quarter ended September 30, 2023, the company has shown weak performance. The company’s revenue fell by 70.60 percent to Rs 53.58 crore. The company’s operating profit fell by 58.87 percent year-on-year, while the company’s profit after tax fell by 59.31 percent to Rs 3.22 crore.
Shares of Tiger Logistics (India) Ltd. have given multibagger returns in the last three years. Shares of the company were trading at Rs 39.50 on 24 December 2020. But on December 22, 2023, the share price rose to Rs 630. This is a stock that has given more than 1450 percent return to investors only during the three-year holding period. In September 2023, foreign investors increased their stake in the company.
Tiger Logistics India Limited is a logistics service provider. The company’s businesses include international freight forwarding, supply chain management, project logistics, defense logistics and cold chain logistics. Investors can keep this stock on watch list as it has achieved good growth.