Navkar Corporation's board nods at transfer of assets to Adani Logistics; stock soars ~7%

10 Oct 2022 , 03:06 PM

Navkar Corporation’s scrips jumped nearly 7% after the company’s board authorised the transfer of its title, rights, interest, and ownership of moveable assets worth Rs1,73.96 crore to Adani Logistics.

The company will utilise the consideration for further expansion of business and the purchase of new trailers for its new project at the Inland Container Depot situated at Morbi.

At around 3.01 PM, Navkar Corporation was trading at Rs60.30, up by 4.78% against the previous close of Rs57.55 on BSE. The counter hit an intraday high and low of Rs61.70 and Rs56.45 respectively.

Navkar Corporation is a logistics company. It provides services such as marine and hazardous cargo handling, empty container storage, warehousing, rail terminal inspection and clearing, consolidation, buffer yard, reefer containers, and other associated services. Navkar provides commercial services to consumers in India.

For feedback and suggestions, write to us at [e-mail]