Multibagger stock Sindhu Trade Links gets approval for NSE debut

Shares of Sindhu Trade Links gave up early gains to trade flat on Monday amid the news that the stock is going to be listed on the National Stock Exchange (NSE). The company informed BSE by a regulatory filing on Saturday.

Sindhu Trade Links said that the company has received the approval from National Stock Exchange of India (NSE) to get direct listing (mainboard) for its equity shares on the exchange, it said in the exchange filing. However, the company did not mention when the listing on NSE will take place.

Shares of Sindhu Trade Links were trading slightly lower at Rs 22.90 on Monday, compared to its previous close at Rs 22.96 on Friday. The total market capitalization of the company stood at Rs 3,512.51 crore.

Shares of Sindhu Trade Links surged more than 50 per cent from its 52-week low at Rs 15.30 in December 2022. The stock is up 12 per cent in the last one month, while the stock is up 40 per cent in the last three months, while the stock has zoomed about 1,100 per cent from its covid-19 lows.

"I am very happy that as an investor-friendly measure the company has got its equity shares listed on NSE, which eventually creates greater visibility and further increases its reach. Increasing presence is of great importance to the company as there can be more and more interactions and involvement," said Rudra Sen Sindhu, Chairman of Sindhu Trade Links.

The company intends to go debt free. In April, Sindhu Trade Links announced to reduce its secured debt by Rs 74.34 crore from Rs 173.50 crore to Rs 99.16 crore, which led to the outstanding outstanding of the company being less than Rs 100 crore then.

The Delhi-based Sindhu Trade Links is primarily engaged in transportation logistics and support services for more than 20 years. The company through its subsidiaries is also engaged in diversified businesses like media, overseas coal mining, biomass-based power generation and others.

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