Here's why Western Carriers share price gained 4% on October 18, details

Western Carriers share price rose after the company announced that it has been selected as the sole supply chain partner for in-plant logistics & container rake transportation from Tata Steel Limited

Western Carriers share price: Share of Western Carriers gained up to 3.88 per cent to hit an intraday high of Rs 151.05 per share on Friday, October 18, 2024. 

The uptick in Western Carriers share price came after the company announced that it has been selected as the sole supply chain partner for in-plant logistics & container rake transportation from Tata Steel Limited for Tata Steel Sponge Iron Joda ('TSSIJ’) unit

Under the terms of the order, Western Carriers will handle all logistics support and container transportation for both loose and bagged direct reduced iron (DRI/Sponge Iron).

Western Carriers provides comprehensive end-to-end logistics services, ensuring smooth movement of goods across various transport modes, including road, rail, and sea/river.

With expertise in both domestic and international (EXIM) cargo, the company facilitates efficient logistics operations within and beyond national borders. Western Carriers claims to have a strong track record of serving a diverse range of customers across multiple industries.

Rajendra Sethia, chairman and managing director of Western Carriers said “This order represents a crucial partnership for the Company, reinforcing the position as a trusted player in the 3PL and 4PL logistics space. Being selected by Tata Steel, as a sole logistics partner at one of their plants is a true honour and a testament of the faith & confidence that our customers have shown in us. The transportation of DRI via container rake aligns perfectly with our strategy to leverage rail transport, providing efficient and sustainable logistics solutions for our clients. Our commitment to delivering tailored solutions and fostering long-lasting relationships positions us as a trusted ally in navigating today’s complex supply chain landscape “

WCIL, is a leading multi-modal, rail focused, 4PL asset-light logistics company in India in terms of container volumes handled/operated. The company endeavours to address logistics complexities by creating customised, onestop/single-window, end-to-end and integrated logistics solutions to customers, which involve a variety of value added services across the supply chain. 

The market capitalisation of Western Carriers is Rs 1,530.86 crore, according to BSE.

At 10:55 AM, Western Carriers shares were trading 3.27 per cent higher at Rs 150.15 per share.