AllCargo fall as company announces Rs 300 crore capex plans
Reacting to the development, the scrip surged 4.27 per cent to hit an intra-day high of Rs 166.90 on BSE. At 10:43am, the stock was trading with mild gains of 0.41 per cent.
By ET Online |
NEW DELHI: Shares of Allcargo Logistics ended lower by 1.5 per cent in Tuesday's trade as the firm announced its intentions to raise Rs 300 crore through permitted securities for further capital expenditure and capacity buildup.
The company reported a 14.30 per cent decline in net profit at Rs 61.51 crore for the December quarter due to a drop in total income. The results were announced on Monday after market hours.
Reacting to the development, the scrip surged 4.27 per cent to hit an intra-day high of Rs 166.90 on BSE. At 10:43am, the stock was trading with mild gains of 0.41 per cent.
Total expenses of the firm during December quarter stood at Rs 1,260.3 crore compared with Rs 1,336.41 crore in the same period a year ago.
The company reported a 14.30 per cent decline in net profit at Rs 61.51 crore for the December quarter due to a drop in total income. The results were announced on Monday after market hours.
Reacting to the development, the scrip surged 4.27 per cent to hit an intra-day high of Rs 166.90 on BSE. At 10:43am, the stock was trading with mild gains of 0.41 per cent.
Total expenses of the firm during December quarter stood at Rs 1,260.3 crore compared with Rs 1,336.41 crore in the same period a year ago.
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