This large-cap logistics stock rose over 18.50% in today’s trade, hit 52-week high; know why
Aegis Logistics Share Price Skyrockets After Impressive Q4 Results
Aegis Logistics, a large-cap company, saw its stock make significant gains on the BSE on Friday following the release of its fourth-quarter results. The stock surged by as much as 18.61% and hit a 52-week high of Rs 746.50, closing at Rs 710.00, up 12.81% from the previous day’s close of Rs 629.35. The company’s market value now stands at Rs 24,921.00 crore.
In addition to the impressive stock performance, Aegis Logistics also announced a final dividend of 200% (Rs. 2/- per share of face value of Re.1 each) for the financial year ended March 31, 2024, pending approval at the Annual General Meeting.
The surge in Aegis Logistics’ stock price came after the company reported strong results for the January-March quarter. The company’s profit after tax increased by 39.35% to Rs 196.29 crore from Rs 140.86 crore year-on-year. However, revenue from operations declined by 17.27% to Rs 1,837.17 crore in the fourth quarter compared to Rs 2,154.47 crore in the same quarter last fiscal.
Aegis Logistics is known as India’s leading integrated oil, gas, and chemical logistics company, and one of the top importers and handlers of LPG among private players in India. The company operates through its Necklace of Liquid & Gas terminals located across major ports in India.
Overall, Aegis Logistics’ strong performance in the fourth quarter and the announcement of a generous dividend payout have contributed to the positive investor sentiment and the surge in its stock price. Welcome to DailyBubble, your go-to source for all things entertainment news! We strive to keep you up to date on the latest happenings in the world of movies, music, television, and more. Our team of dedicated writers works tirelessly to bring you the most up-to-date and accurate information, so you can stay in the know about your favorite celebrities and pop culture trends.
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