Western Carriers wins order from Vedanta, shares gain 

Shares of Western Carriers India Ltd (WCIL) rose over 13% on Friday after the logistics solutions provider said it has bagged a material handling order worth Rs 139 crore from Vedanta Ltd.

Western Carriers India is one of the leading 3PL and 4PL logistic companies in India, specializing in rail-focused supply chain solutions. Western Carriers stock rose 13.51% to a high of Rs 131 against the previous close of Rs 115.40 on BSE. Market cap of Western Carriers climbed to Rs 1,264.75 crore. Total 1.02 lakh shares changed hands amounting to a turnover of Rs 1.27 crore. 

In terms of technicals, the relative strength index (RSI) of the stock stands at 41.8, signaling the stock is trading neither in the overbought nor in the oversold zone. 

Western Carriers shares are trading higher than the 5 day, 10 day, 20 day, 30 day moving averages.

The order entails the import, finished goods domestic and export material handling contract at Jharsuguda Plant. The total value of the order is approximately Rs. 139 crore for a duration of four years.

Commenting on the development, Kanishka Sethia, CEO, WCIL said, "This order not only strengthens our relationship with our marquee client Vedanta but also opens avenues for future projects within the mining and mineral sector. This new order represents a significant milestone in our ongoing partnership. It is a testament to our consistent delivery of high-quality solutions and our ability to meet the evolving needs of our clients" 

Western Carriers is a player in the Indian logistics industry and engaged in providing single, multimodal and other transportation services, warehousing and other ancilliary services.