Allcargo Logistics freezes at 20% upper limit, at new high on robust Q2 nos

The company said the industry went through pain with low rates over several years and has now turned around post consolidation and do not see freight rates going back to earlier levels in near future.

Shares of Allcargo Logistics were locked at the 20 per cent upper circuit at Rs 328.95, also its fresh life-time high, on the BSE on Tuesday, after the company’s reported 355 per cent year-on-year (YoY) jump in consolidated net profit at Rs 264 crore in September quarter (Q2FY22). The logistics company had profit of Rs 58 crore in a year ago quarter.

The stock surpassed its previous high of Rs 318 touched on October 5, 2021. The counter has seen huge activity with trading volume having jumped over six times. Till 02:25 pm; a combined 9.45 million shares changed