Kesar Terminals rallies on commencing rail terminal operations and goods train

The stock was up 13% to Rs 442 on the BSE as compared to 0.76% decline in the S&P BSE Sensex at 02:55 pm.

Kesar Terminals & Infrastructure rallied 15% to Rs 449 on the BSE after the logistics company said that it has commenced rail terminal operations and movement of goods train from the Multimodal Composite Logistics hub of Kesar Multimodal Logistics (KMLL) - the subsidiary of the company at Powarkheda, district Hoshangabad, Madhya Pradesh (MP).

The facilities at the hub will permit transportation of food grains, soya extract, vegetables and fruits from this location to any location in India within 24 hours. This location, which is situated at nearly the centre of Indian Railway map, will offer an opportunity to the manufacturers of bulk commodities, such as cement, steel, fertilizer etc. to quickly move their cargo from their manufacturing point to the terminal for storage and onward distribution. This will be a desired location for such pan India distribution once GST becomes a reality.

The facilities of the hub will also permit rail transportation of ICD containers from surrounding areas to the major ports like JNPT, Mundra & vice-versa for both, exports & imports thereby saving costly road freight, besides reducing pollution of truck movement, it added.

At 02:55 pm, the stock up 13% to Rs 442 on the BSE as compared to 0.76% decline in the S&P BSE Sensex. A combined 103,178 shares changed hands on the counter on the BSE and NSE.