Sical Logistics rallies over 15% on heavy volumes

The stock rallied 15% to Rs 274, also its 52-week high, surging 22% in past two trading sessions.

Sical Logistics rallied 18% to Rs 274, also its 52-week high on the National Stock Exchange (NSE) on back of heavy volumes.

In past two trading sessions, the stock surged 22% after two promoter group companies – Darnolly Investments and Ranford Investments – have sold nearly 2% stake of Sical Logistics through open market transactions.

Darnolly Investments offloaded 910,000 shares representing 1.64% stake of the company in open market, while Ranford Investments sold 201,000 shares or 0.36% holding on February 9, 2017, according to information filed by Sical Logistics.

Gagandeep Credit Capital Pvt. Ltd. bought 910,000 shares for Rs 232.31 per share, the NSE bulk deal data shows.

As on February 9, the combined holding of Darnolly Investments and Ranford Investments stood at 1.4% against 14.12% in December 2015 quarter.

In past one year, total promoter holding in the company declined by 11 percentage points to 58.60% at the end of December 2016 quarter from 69.31% in December 2015 quarter.

Sical Logistics, the Group firm of Coffee Day Enterprises (CDEL), offers integrated logistics solutions for both container and bulk cargo.

At 12:42 pm; the stock was up 12% at Rs 261 on the NSE as compared to 0.18% rise in the Nifty 50 index. The trading volumes on the counter jumped multiple folds with a combined 1.45 million shares changed hands on the NSE and BSE.