VRL Logistics rose 3.36% to Rs 331.15 at 14:13 IST on BSE after the company said it has entered into an agreement of sale with Rajglory Infra LLP for purchase of land and construction of transshipment yard.
The announcement was made on Saturday, 17 June 2017.
On the BSE, 15,000 shares were traded on the counter so far as against the average daily volumes of 23,083 shares in the past one quarter. The stock had hit a high of Rs 335 and a low of Rs 328.05 so far during the day. The stock had hit a 52-week high of Rs 377.50 on 21 July 2016 and a 52-week low of Rs 244.70 on 9 November 2016.
The stock had underperformed the market over the past one month till 16 June 2017, declining 3.3% compared with the Sensex's 1.55% rise. The scrip had, however, outperformed the market over the past one quarter advancing 6.2% as against the Sensex's 4.97% rise. The scrip had, however, underperformed the market over the past one year advancing 7.07% as against the Sensex's 17.08% rise.
The small-cap company has equity capital of Rs 91.24 crore. Face value per share is Rs 10.
VRL Logistics said that the company has entered into an agreement of sale with Rajglory Infra LLP for purchase of land and construction of transshipment yard at Surat, Gujarat at estimated cost of around Rs 83 crore. The payment would be made in stages and said premises would be available for operation after completion within the next 24 months.
VRL Logistics' net profit fell 29.8% to Rs 8.38 crore on 6.6% increase in net sales to Rs 442.86 crore in Q4 March 2017 over Q4 March 2016.
VRL Logistics is engaged in goods transportation and passenger transportation. The company offers logistics services dealing in domestic transportation of goods. It is also engaged in bus operations, air chartering service, sale of power and sale of certified emission reductions (CER) units generated from operation of wind mills.
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