Tiger Logistics (India) is an international logistics player known for its expertise in handling the import and export of cargo and projects.Shares Tiger Logistics (India) Ltd inched higher on Tuesday after the company announced to secure a tender from Hindustan Petroleum Corporation Ltd for Logistics Services. The BSE-listed entity has been awarded another government tender from Hindustan Petroleum Corporation marking a significant milestone to enter the petro segment. However, the company has not disclosed the nature, duration and size of the tender. "This accomplishment positions the company to explore further opportunities in the petroleum sector, allowing us to broaden our footprint and strengthen our presence in the logistics business. We look forward to continuing our successful endeavors and contributing positively," said the exchange filing. Following the announcement, shares of Tiger Logistics gained about 2 per cent to Rs 735 on Tuesday, commanding a total market capitalization of Rs 750 crore. However, the stock gave up its gains as the session progressed. The scrip the settled at Rs 721.35 in the previous trading session on Monday. Tiger Logistics has successfully entered the petro segment through a significant government project secured via a tender from Hindustan Petroleum Corporation Limited. This achievement not only showcases our expertise in international cargo and project logistics but also positions us strategically for further growth in this lucrative industry, said Harpreet Singh Malhotra, the MD at Tiger Logistics (India).
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