Stock Market News: 314 Percent in 2 Year: Tiger Logistics Hits All-time High | Check Details Here

Tiger Logistics shares offered shareholders a return of 314 per cent in the last one year and gained 1525 per cent in the last 3-year span.

Stock Market News: Shares of small-cap logistics solutions provider Tiger Logistics (India) Ltd hit an all-time high on Wednesday. This counter jumped around 7.14 percent today to trade at Rs 656. The counter has outperformed the sector by 1.2 percent. Tiger Logistics shares offered shareholders a return of 314 percent in the last one year and gained 1525 percent in the last 3-year span.

Meanwhile, the company has informed the bourses that it is gearing up to revolutionize global logistics with “freightjar beta Version Launch”.

According to the company, the digital logistics platform will focus on the global market.

“In the Beta Version, the company is making provisions that the international importers and exporters can directly access freight rates from India to various parts of the world and vice-versa and they can book shipments online,” the company said in a statement.

“We eagerly anticipate the positive impact this Beta version launch will have on the international trade community and the
subsequent benefits for our stakeholders,” the company added.

Meanwhile, India’s logistics costs have fallen to 8.9 per cent of gross domestic product (GDP), as better infrastructure created by higher government expenditure on highways, ports and digitisation has speeded up the movement of cargo.

The report ‘Logistics Cost in India’, authored by the National Council of Applied Economic Research (NCAER), said logistics costs including transportation, warehousing, insurance and administrative charges had come down thanks to improvements in road network, tax reforms and digitisation of supply chains.

Disclaimer: The article is for informational purposes only and not investment advice.