Western Carriers shares soar 16% on Rs 139-cr order win from Vedanta

Shares of logistics solutions provider Western Carriers (India) climbed 16.47 per cent to hit the day's high of Rs 135 on the National Stock Exchange (NSE) during intra-day deals on Friday, January 3, 2025.

 

The surge in Western Carriers' share price came after the company announced that it had secured a material handling order worth Rs 139 crore from Vedanta.

 

According to information shared by the company in an exchange filing, "This order entails the Import, Finished Goods Domestic, and Export Material Handling Contract at the Jharsuguda Plant. The total value of the order is approximately Rs 139 crore for a duration of four years."

 

 

Commenting on the development, Kanishka Sethia, CEO, WCIL said, “This order not only strengthens our relationship with our marquee client Vedanta but also opens avenues for future projects within the mining and mineral sector. This new order represents a significant milestone in our ongoing partnership."

 

Western Carriers (India), founded in 1972, is a multi-modal, rail-focused, 4PL asset-light logistics company in India in terms of container volumes handled/operated. The company endeavors to address logistics complexities by creating customised, one-stop/single-window, end-to-end, and integrated logistics solutions for customers, which involve a variety of value-added services across the supply chain.

 

As of January 3, 2025, Western Carriers (India) has a market capitalisation of Rs 1,259.04 crore on the NSE.

 

Western Carriers' shares hit a 52-week high of Rs 177 apiece on September 24, 2024, when the company's shares made their D-Street debut following the completion of its initial public offering (IPO). Meanwhile, the 52-week low of Rs 109.97 was recorded on December 24, 2024.

 

At around 11:22 AM on Friday, Western Carriers' shares were quoted at Rs 123.49, up 6.55 per cent from their previous close of Rs 115.90 on the NSE. A combined total of nearly 1.86 million equity shares of Western Carriers had exchanged hands on the BSE and NSE, estimated to be worth around Rs 22.63 crore so far, as of the time of writing.

 

Meanwhile, the benchmark equity indices were trading lower on Friday. The NSE Nifty50 was quoted at 24,111.40, down 0.32 per cent, while the 30-share Sensex was trading lower by 308 points at 79,635.71.