Rail contract puts Sical Logistics on a roll

DALAL STREET SPIKES

Sical Logistics surged 19.36 per cent to Rs 494.50 on an announcement that the company had won bid to develop a rail terminal, on a build-operate-transfer basis, for 66 years lease in Nagpur.

Around two lakh shares were exchanged on BSE. On a monthly basis, the stock outperformed Sensex by a marginal difference. It gained 15 per cent compared with 10 per cent rise in Sensex.

The company is engaged in shipping, stevedoring, chartering, repairing, marine engineering, marketing, clearing and forwarding business.

Recently Deutsche Bank entered into a 'subscription agreement' with the company for investing $75 million in its foreign currency convertible bond issue.