Sical Logistics gains after receiving LoA from Northern Coalfields

Sical Logistics rose 1.49% to Rs 214.55 at 11:17 IST on BSE after the company said it received a letter of acceptance from Northern Coalfields for excavation of overburden from Amlohri OCP.

The announcement was made after market hours yesterday, 2 May 2018.

Meanwhile, the S&P BSE Sensex was down 147.57 points, or 0.42% to 35,028.85.

On the BSE, 27,000 shares were traded in the counter so far compared with average daily volumes of 6,152 shares in the past two weeks. The stock had hit a high of Rs 223.50 and a low of Rs 214.35 so far during the day. The stock hit a 52-week high of Rs 285 on 11 May 2017. The stock hit a 52-week low of Rs 194 on 5 February 2018.

Sical Logistics said it was awarded a letter of acceptance (LoA) by Northern Coalfields for excavation of overburden of first dig [solid] by mechanical means and allied transportation activities at Amlohri opencast project (OCP) for a contract price of Rs 1345 crore for excavation of 145 million bank cubic metre (BCM) over a period of 51 months. The company considers this to be one among the prestigious contracts.

On a consolidated basis, net profit of Sical Logistics declined 28.10% to Rs 6.96 crore on 33.07% rise in net sales to Rs 329.44 crore in Q3 December 2017 over Q3 December 2016.

Sical Logistics is an integrated logistics solutions provider.

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