Shreeji Translogistics ropes in United Parcel as new client for bonded trucking division; stock spurts ~4%

10 Oct 2022 , 10:36 AM

Shreeji Translogistics Limited (STL), an India-based surface logistics and package delivery service provider, announced a big customer win: UPS, a multinational logistics corporation headquartered in the United States.

This collaboration demonstrates STL’s capacity to provide distinct value-added services while also engaging in the government’s goal of providing superior logistics services while lowering overall logistics costs.

This relationship is already a month old and is progressing as predicted while providing STL with several chances for expansion, said the company in its press release.

STL is a pioneer in bonded trucking services and will be one of the first and only partners to provide ground-breaking bonded trucking services for UPS import and export cargo transhipment. The services would initially be available across the whole southern area of India, where UPS currently operates one daily trip.

Furthermore, this affiliation makes STL one of the early movers in offering bonded transportation services to UPS in the southern area, with an estimated annual income of roughly Rs2.5-3 crore.

Shreeji Translogistics was trading at Rs338.45, up by 3.80% against previous close of Rs326.05 on NSE. So far, the counter touched intraday high and low of Rs342 and Rs324.45 respectively.

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