Multibagger logistic solution provider's stock surges 7% today amid heavy volumes

Shares of Accuracy Shipping jumped about 7 per cent during the trading session on Friday amid heavy trading volumes and debt reduction plans. The logistics solutions provider is also exploring growth options. The company is reducing its debts substantially and eyes to get debt-free status soon.

Shares of Accuracy Shipping jumped about 7 per cent to Rs 13.35 on Friday, before giving up its gains partially as more than 1.8 lakh shares of the company exchanged hands. The company's market capitalization stood little less than Rs 200 crore. The scrip had settled at Rs 12.5 on Thursday. The stock has surged more than 315 per cent since March 2020.

The stock is trading at price-to-book value (P/BV) of less than 2 and has a dividend yield of 0.38 per cent. Its return on capital employed (RoCE) and return on equity (RoE) stood at 18.8 per cent and 19.8 per cent, respectively.

In February 2023, shares of Accuracy Shipping were split in 1:10 ratio, implying that each share of the company with a face value Rs 10 each, were subdivided in 10 equity shares with a face value of Re 1 each. The company board had fixed February 15 as the record date for the same.

Accuracy shipping has a vast pan India network, which enables it to provide its customers hassle free services across the board. It caters to diversified industry to accelerate growth and adding new streams of revenue through backward and forward integration to strengthen the logistical services.

Accuracy Shipping has a presence across India with 14 offices and more than 60 agency agreements across the globe to cater to the growing logistical needs for cross border transactions.