110% Gain In 6 Months: Logistic Stock In Focus On Securing Govt Tender From BHEL

On Monday, the shares of Tiger Logistics (India) opened on the BSE at Rs 860 apiece and traded in the day high at the same level logging a gain of 1.66%. As Tiger Logistics successfully wins another government contract from Bharat Heavy Electricals Limited (BHEL), the stock is in the spotlight.

Tiger Logistics (India), a well-known third-party logistics provider with a focus on project logistics and international freight, is happy to announce a noteworthy accomplishment. Bharat Heavy Electricals Limited (BHEL) has awarded the corporation another significant government tender, which it has successfully obtained. The company will now handle import and export by sea and will offer services such as customs clearance, forwarding, handling, transportation, and warehousing to BHEL in addition to the news release of August 21, 2023 on the export of goods by air. Put otherwise, the company will offer BHEL full logistical solutions up to the tender's scope.

Mr. Harpreet Singh Malhotra, the MD, expressed his thoughts, saying, "In the present circumstances, our company is already engaged in overseeing a number of government projects. Moving forward, our aim is to further solidify our position in managing government logistics, with the goal of handling substantial business volume. The selection of our tender by a government organization is a result of dedicated efforts. Our company is strongly committed to pursuing additional Government Projects in this financial year. This approach not only ensures consistent growth but also enhances our brand visibility and secures a reliable payment cycle."

The company said in a statement that some of its notable projects include Hindustan Petroleum Corporation Limited (HPCL), Bank Note Paper Mill India Private Limited, Hindustan Insecticides Limited (HIL), Airports Authority of India (AAI), Hindustan Aeronautics Limited (HAL), Bharat Earth Movers Limited (BEML), National Automotive Testing and R&D Infrastructure Project (NATRiP), Indian Oil Corporation Limited (IOCL), Chittaranjan Locomotive Works (CLW), IRCON International Limited, and National Institute of Solar Energy (NISE). These successes highlight the company's proficiency and commitment to managing a range of government projects.

The scrip reached a 52-week-high of Rs 870.00 on (12/01/2024) and a 52-week-low of Rs 335.00 on (28/03/2023). The stock has generated a multibagger return of 110.31% in 6 months, a YTD gain saw 14.78% within 15 days of 2024 and 1 year return is 94.12%.