Patel Integrated Logistics teams up with Saudi-based Nationwide Group to float JV

Patel Integrated logistics Ltd (PIL) has teamed up with Saudi Arabia’s renowned Nationwide Group to develop Pivot Logistics.

May 30, 2016 10:05 IST India Infoline News Service

High angle view of two business executives working at the stock exchange
In a pioneering Indo-Saudi joint venture after the recent visit by Prime Minister Narendra Modi and the sweeping economic reforms by the Arabian country, India’s logistics behemoth Patel Integrated logistics Ltd (PIL) has teamed up with Saudi Arabia’s renowned Nationwide Group to develop Pivot Logistics.

Patel Integrated Logistics Ltd ended at Rs. 98.05, down by Rs. 0.5 or 0.51% from its previous closing of Rs. 98.55 on the BSE.
The scrip opened at Rs. 98.75 and touched a high and low of Rs. 102.9 and Rs. 96.4 respectively. A total of 247812(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 156.56 crore.
The BSE group 'B' stock of face value Rs. 10 touched a 52 week high of Rs. 143.7 on 04-Dec-2015 and a 52 week low of Rs. 65 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 105 and Rs. 92.9 respectively.
The promoters holding in the company stood at 43.51 % while Institutions and Non-Institutions held 0.7 % and 55.79 % respectively.
The stock traded above its 200 DMA.

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