Patel Integrated Logistics trades positive, signs loan documents

Patel Integrated Logistics on Thursday has executed loan documents of an amount of Rs 5 crore with Small Industries Development Bank of India (SIDBI).

Jun 30, 2017 05:06 IST India Infoline News Service

Patel Integrated Logistics on Thursday has executed loan documents of an amount of Rs 5 crore with Small Industries Development Bank of India (SIDBI).

The loan was taken for setting up warehouse facility at Bangalore obtained on long term lease of 99 years from Karnataka Industrial Areas Development Board (KIADB).

In addition, the company is actively looking for setting up warehouse facilities in Gujarat and Chennai.

Meanwhile, the stock gained 1.1% at Rs 89.80 per share on BSE. The stock attracted a traded volume of shares and a traded value of lakhs on NSE on Friday’s trade.

On a yearly basis, the stock has underperformed BSE Small-cap index.  According to market observers, the company has good profit growth of 20.46% over 5 years.  

Patel Integrated Logistics Limited is an India-based logistics solutions provider. The company’s segments include Surface Transportation, Co-loading of Courier and Consolidation of Cargo.
 
Stock view:

Patel Integrated Logistics Ltd is currently trading at Rs 90, up by Rs 1.45 or 1.64% from its previous closing of Rs 88.55 on the BSE.
 
The scrip opened at Rs 92 and has touched a high and low of Rs 92.6 and Rs 87.6 respectively. So far 321378(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 140.68 crore.
 
The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 125.7 on 15-Jul-2016 and a 52 week low of Rs 69.5 on 23-Nov-2016. Last one week high and low of the scrip stood at Rs 92.8 and Rs 84.05 respectively.
 
The promoters holding in the company stood at 43.51 % while Institutions and Non-Institutions held 0.31 % and 56.18 % respectively.
 
The stock is currently trading above its 50 DMA.

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