(India) Limited, has signed a Memorandum of Understanding with 'P&G Associates', a leading advisory firm to explore the business opportunities in Defence and Paramilitary Logistics (Airforce, Army, Naval & Paramilitary forces).
Through this MoU, Cmde Gurpreet Singh Oberoi (Retd.), an ex-commodore, will render his service to be the Defence Advisor for M/s Tiger Logistics (India) Limited. He has a vast experience in the Defence sector which is expected to add a significant addition in orders for Tiger Logistics.
This MoU aims to bring a sharper focus on the Defence Logistics segment which is a niche segment with high entry barriers. With this, management of the Company is expecting to increase the top line by 10%, based on the current market conditions. With few organised players left in the Industry to serve a niche and highly sensitive segment as Defence, Tiger Logistics shall emerge as one of the most reliable Defence logistics players in India.
On this Mr Harpreet Singh Malhotra, CMD commented, 'With this strategic move, we aim to address the large opportunity in the space of Defence Logistics. We have assigned an industry expert Cmde. Mr Gurpreet Singh Oberoi to look after Defence Logistics who brings in vast understanding in this niche segment. We expect our top line to increase by 10% in the next 1 -2 years with this renewed focus.'
Tiger Logistics (India) Ltd is currently trading at Rs 214, up by Rs 1.3 or 0.61% from its previous closing of Rs 212.7 on the BSE.
The scrip opened at Rs 218.1 and has touched a high and low of Rs 219.6 and Rs 212 respectively. So far 130425(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 224.88 crore.
The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 304 on 06-Feb-2017 and a 52 week low of Rs 138.1 on 19-Aug-2016. Last one week high and low of the scrip stood at Rs 231.7 and Rs 206.15 respectively.
The promoters holding in the company stood at 73 % while Institutions and Non-Institutions held 0 % and 27 % respectively.
The stock is currently trading below its 200 DMA.