TCI Express Ltd., incorporated in the year 2008, is a Mid Cap company (having a market cap of Rs 3013.27 Crore) operating in Logistics sector.
By ETMarkets.com | Updated:
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Promoters held 66.9 per cent stake in the company as of Sept 30, 2020, while FIIs held 2.1 per cent, DIIs 9.7 per cent and public and others 21.3 per cent.
ICICI Securities has given a buy rating to TCI Express with a target price of Rs 1007. The share price moved up by 2.25 per cent from its previous close of Rs 767.75. The stock’s last traded price is Rs 785.
TCI Express Ltd., incorporated in the year 2008, is a Mid Cap company (having a market cap of Rs 3013.27 Crore) operating in Logistics sector.
Financials For the quarter ended 30-09-2020, the company reported a Standalone sales of Rs 212.95 Crore, up 139.97 % from last quarter Sales of Rs 88.74 Crore and down 20.97 % from last year same quarter Sales of Rs 269.47 Crore Company reported net profit after tax of Rs 23.49 Crore in latest quarter.
Investment Rationale Trucking has been meaningfully impacted on account of Covid-19 pandemic; utilisation has recovered to 75/80% in July and has stabilised at 85% by the end of the quarter. The brokerage continues to highlight two trends in the sector– increasing share of rails even in EXIM container trade and relatively better positioning of stronger balance sheet organised sector road transporters i.e. players like TCIE. Both the trends are structural and will accentuate with the advent of DFC and determine the rating rationale on TCIE. Promoter/FII Holdings Promoters held 66.9 per cent stake in the company as of Sept 30, 2020, while FIIs held 2.1 per cent, DIIs 9.7 per cent and public and others 21.3 per cent.
