Tiger Logistics shares rise as company bags a tender from Hindustan Petroleum

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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Shares of Tiger Logistics have rallied about 400 per cent in the last five years, while the stock has gained 50 per cent in the last one month period. The stock has almost doubled investors wealth in the last six-month time frame, while it is up 40 per cent in the last one-month.

Tiger Logistics (India) is an international logistics player known for its expertise in handling the import and export of cargo and projects. It has a very strong base of approximately 50 agents and partners all over the world. Its competitive edge lies in its asset light model and providing a one-stop solution to customers for international trades.

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