Buy Allcargo Logistics, target price Rs 510: Axis Securities

Axis Securities has buy call on Allcargo Logistics with a target price of Rs 510. The current market price of Allcargo Logistics is Rs 449.

Allcargo Logistics Ltd., incorporated in the year 1993, is a Small Cap company (having a market cap of Rs 10761.46 Crore) operating in Logistics sector.

Allcargo Logistics Ltd. key Products/Revenue Segments include Mutimodal Transport Operations, Container Freight Station, Other Services and Other Operating Revenue for the year ending 31-Mar-2022.



Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 5696.50 Crore, down -1.56 % from last quarter Total Income of Rs 5786.65 Crore and up 64.68 % from last year same quarter Total Income of Rs 3459.14 Crore. Company reported net profit after tax of Rs 259.80 Crore in latest quarter.


Investment Rationale
One year “multiple resistance” breakouton a weekly time frame at 400 , sustaining above key SMAs.