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Western Carriers shares jump 6% on ₹230 crore order from Jindal Stainless
The logistics solution provider's stock rose as much as 5.75 per cent during the day to ₹121 per share, the highest level since January 6 this year. The stock pared gains to trade 3.3 per cent higher at ₹118.2 apiece, compared to a 0.05 per cent advance in Nifty 50 as of 10:22 AM. This rally comes a day after the stock rallied as much as 11 per cent on Thursday.
Shares of the company extended gains to their sixth straight day on Friday, gaining nearly 15 per cent in the process. From its April lows, the stock has surged nearly 72 per cent. The counter has risen 7.8 per cent this year, compared to an 8.12 per cent advance in the benchmark Nifty 50. Western Carriers has a total market capitalisation of ₹1,254.56 crore, according to BSE data. Track LIVE Stock Market Updates Here
Western Carriers bags work order from Jindal Stainless
The company secured a ₹230 crore work order from Jindal Stainless for a three-year integrated EXIM logistics contract, according to an exchange filing on Thursday.
The deal includes rail transportation of containers from various ports to JSL's plant siding, customs clearance at its Jajpur facility, return movement of empty and export-laden containers, and last-mile delivery to designated container freight stations or shipping line yards, it said.
Securing this prestigious contract from Jindal Stainless Limited is a strong endorsement of Western Carriers' proven execution capabilities and trusted partnership, said Rajendra Sethia, chairman and managing director, Western Carriers. "These back-to-back significant orders not only
highlight our operational excellence but also reaffirm our strategic position as a preferred end-to-end logistics partner for India's leading industrial houses."
On Wednesday, the company said that it secured an ₹558 crore work order from Jindal Stainless for the transportation of slabs, coils, and sheet plates in DSO containers to various destinations across India. Earlier this month, it received a work order worth about ₹27.73 crore from Jindal Stainless Limited (JSL) for hiring and trip basis of trailers for container movement inside the JSL plant in Jajpur.
About Western Carriers
Western Carriers (India) Ltd is among India's leading asset-light, multi-modal logistics providers with a strong focus on rail-based transport. Leveraging a scalable, technology-driven model, Western Carriers offers customised end-to-end 3PL and 4PL logistics solutions that seamlessly integrate road, rail, water, and air transport, along with a suite of value-added supply chain services.
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