Nomura Singapore-Backed Multibagger Stock To Consider Bonus Shares

Lancer Container Lines Ltd., a leading integrated and logistics solution provider in India, has announced that its board will meet on 10 August 2023 to consider bonus issue of equity shares.

Earlier, the company had announced that Lancia Shipping LLC (Dubai), a 100% wholly owned foreign subsidiary of Lancer Container Lines Ltd., has entered into a Joint Venture (JV) agreement for vessel operations with entities located in Dubai, UAE. Lancia Shipping LLC will also acquire a business set up in Dubai that is into freight forwarding and liner operations.

Lancer Container Lines Ltd. was incorporated in 2011 by entrepreneur Mr. Abdul Khalik Chataiwala, headquartered in CBD Belapur. Lancer is into providing 'TOTAL LOGISTICS SOLUTION WITHOUT LIMITS' and operates an asset-light business with a mix of 14,000+ owned and leased containers, offering services to over 74 ports as well as inland destinations through 14 branches in India and a subsidiary in Dubai, covering more than 30 countries, the principal geographies of operations are supported by a network of associates in the Indian subcontinent, Southeast Asia, the Far East, MENA and CIS countries.

Lancer provides services like NVOCC, Empty Container Yard, Container trading, Freight forwarding (Sea, Air, and Road), etc. in India as well as on a global basis. It owns a container yard spread over 20,000 square metre in Panvel near JNPT. Lancer is led by a team of seasoned professionals with robust experience in the shipping and logistics sector.

On Friday, the shares of Lancer Container Lines Ltd opened on the BSE at Rs 209.00 apiece and while writing this copy the stock was trading at Rs 206.05 with an upside gap of 1.80% over the previous close of Rs 202.40. During the quarter ended Q1FY24, Nomura Singapore held 22,78,280 shares or 3.61% fully paid up stake in the company. The stock made a 52-week-high of Rs 258.98 on (16/11/2022) and a 52-week-low of Rs 117.58 on (23/08/2022).