Shares of AVG Logistics Limited surged up on Tuesday morning to hit a new all-time high of ₹333.65

What Happened: The stock is upbeat today as the multimodal logistics solutions provider clinched an approximately ₹150 crore contract from the Indian Railways. The contract will see AVG Logistics operate a Leased Parcel Express Train over six years.

AVG Logistics Limited announced the development on Tuesday. The contract involves the lease of a Parcel Cargo Express Train (PCET) which will ply between Bangalore and Ludhiana, Punjab. The train is slated to complete 313 round trips during the contract duration, making a round trip every week.

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The Managing Director & CEO of AVG Logistics, Sanjay Gupta, expressed that the new partnership with Indian Railways is a testament to their commitment towards providing efficient cargo transportation services. He further stated, “This takes us a step closer to our sustainability goals.” Gupta also noted that the contract is poised to bolster the company’s revenue and provide impetus to pursue more ambitious projects.

AVG Logistics Limited offers an array of logistics solutions, including transportation, warehousing, distribution, and supply chain management services. The recent contract win is anticipated to enhance the company’s financial performance and contribute positively to its green logistics initiatives.

Price Action: Shares of AVG Logistics were up 1.05% to trade at ₹322.90 on Tuesday afternoon.

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