Future Supply Chain Solutions heads north after RBI notification

Future Supply Chain Solutions advanced 3.26% to Rs 689.80 at 10:31 IST on BSE after Reserve Bank of India allowed raising FPI limit in the company to 49% from 24%.

Meanwhile, the S&P BSE Sensex was up 92.57 points, or 0.27% to 33,881.11.

On the BSE, 2454 shares were traded in the counter so far, compared with average daily volumes of 952 shares in the past two weeks. The stock had hit a high of Rs 711.95 and a low of Rs 680 so far during the day. The stock hit a record high of Rs 750 on 15 January 2018. The stock hit a record low of Rs 639 on 9 March 2018.

The small-cap company has equity capital of Rs 40.06 crore. Face value per share is Rs 10.

The Reserve Bank of India after market hours yesterday, 9 April 2018 notified that the foreign portfolio investors (FPIs) investment limit under portfolio investment scheme in Future Supply Chain Solutions has increased from 24% to 49% of its paid up capital.

Shares of Future Supply Chain Solutions settled at Rs 685.80 on the BSE, a premium of 3.28% over the initial public offer price of Rs 664 on its debut on the stock exchanges on 18 December 2017.

Future Supply Chain Solutions reported 36.88% rise in net profit to Rs 16.22 crore on 34.4% rise in total income to Rs 196.50 crore in Q3 December 2017 over Q3 December 2016.

Future Supply Chain Solutions is one of the largest third-party logistics service providers in India. The company's services include automated and IT-enabled warehousing, distribution and other logistics solutions to a wide range of customers which includes retail, fashion and apparel, automotive and engineering, food and beverage, fast-moving consumer goods, e-commerce, healthcare, electronics and technology, home and furniture and ATMs.

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