Shares of AVG Logistics Ltd gained over 7% today after the company secured a 6 year long term contract, valued at Rs 105 crore, for lease of Parcel Cargo Express Train (PCET) from the Indian Railways. AVG Logistics stock gained 7.10% to Rs 665.40 against the previous close of Rs 621.25 on BSE. Market cap of AVG Logistics climbed to Rs 737.25 crore.
Total 0.67 lakh shares changed hands amounting to a turnover of Rs 4.19 crore. The turnover stood at Rs 44.43 crore on NSE. AVG Logistics shares have gained 136 per cent in six months and risen 102% in three months.
The special train, which connects Korukkupet Goods Shed (Chennai) to New Guwahati Goods Shed (Guwahati), will complete four trips every month over the next six years, totalling 313 trips during the contract tenure.
The carrying capacity during the trip is expected to be 364 tonnes for the first six months. Later, it will be 484 tonnes per trip.
The Express Train Service will cover the distance of 2500 kilometres in 72 hours ensuring expeditious, seamless connectivity between the two locations.
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