Shares of Logistics Company, NECC Rally 5%; Here's Why

Shares of logistics company North Eastern Carrying Corporation (NECC) surged around 5 per cent to touch the level of Rs 34.25. The 52-week-high level of NECC shares is Rs 37.40 while the 52-week low is Rs 13.

In the last 5 days, the shares of NECC have given a return of around 13 per cent and in the last one month it has given a return of 17 per cent.

Stock has given multibagger return of around 57% to its investors in last one year and 417% return in last five years

Recently, NECC received a letter of acceptance (LoA) from GAIL (India) Ltd, a top central public sector undertaking under the Ministry of Petroleum and Natural Gas, for transportation of polymer.

Eailer, NECC entered into a MoU with SG Logistic Management Pvt Ltd to invest up to Rs 20 crore in the same and acquiring up to 20 per cent of shares/ other securities therein.

NECC offers a wide range of transport services in India, Nepal and Bhutan. Its services include booking small parcels, full truck load consignments, project consignments to over dimensional consignments (ODC). NECC also provides containerized movement of cargo, warehousing, packing and moving and storage facilities.