Ex-Bonus Stock: Small Cap Stock Gains 12% Intraday, Jumps 239% In 5-Yrs

Small cap company from Logistics sector, Allcargo Logistics Ltd stock gained over 12% intraday today as shares traded ex-bonus in the proportion of 3:1. Current market price of Allcargo Logistics share on BSE is Rs 92.35 per share with intraday surge of 11.94%. Allcargo Logistics shares offered shareholders return of 39% in last 1-month and soared 170% in last 3-years. Check details below:

Allcargo Logistics Trades Ex-Bonus: As per the BSE filing of the company dated December 20, 2023, the company declared January 2, 2023 as the record date for 3:1 bonus shares. It implies shareholders will be eligible to receive 3 bonus shares for every 1 share held today.

Allcargo Logistics Stock Performance & Return: The 52-week high price of Allcargo Logistics shares on BSE is Rs 110.60 per share and 52-week low price is Rs 61.50 per share, respectively. Allcargo Logistics shares gained 11.52% year-to-date, soared 28% in last 2-weeks, gained 30% in last 6-months, fell 9% in last 1-year, and offered return of 239% in last 5-years.

Allcargo Logistics share also traded its fresh 52-week high today and witnessed spurt in volume by more than 10.83 times.

Allcargo Logistics Declared Demerger: Boards of Allcargo Logistics Limited and Allcargo Gati Limited have given nod to the composite scheme of arrangement for restructuring of businesses under Allcargo Limited and Allcargo Gati Limited (Formerly Gati Limited), according to a BSE filing issued on December 21, 2023. As per the schem e, International Supply Chain (ISC) business will be demerged into a separate entity: Allcargo ECU Limited. This would include the India part of International Supply Chain business along with the international subsidiaries held under the ECU Worldwide NV.

Express business and Contract Logistics business would come under the resulting entity Allcargo Logistics (post ISC demerger) which will benefit from combined synergies and the shareholders of Allcargo and Allcargo Gati will get direct shareholding eliminating inefficient complex corporate structure.

As per the approved swap ratio, based on the recommendations of the independent valuers, shareholders of Allcargo Gati will get 63 shares in the resulting Allcargo Logistics entity (post ISC demerger) for every 10 shares held in Allcargo Gati. Shareholders of Allcargo will get 1:1 share in the demerged Allcargo ECU Limited and continue to hold their shares in Allcargo Logistics Limited, which will now be the resulting entity holding Express and Contract Logistics business directly. This takes into account 3:1 bonus shares approved by shareholders for Allcargo Logistics recently.

About: It transports cargo across the globe with international supply chain and air freight solutions. The company provides express distribution under Gati Limited and end-to-end contract logistics under Allcargo Supply Chain. As part of the leading Allcargo Group, it creates synergies and collaborates with its group companies for integrated logistics including CFS-ICD under Allcargo Terminals Limited and logistics parks under Transindia Real Estate Limited, according to its official website.

Disclaimer:

The stock highlights the bonus share and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.