Patel Logistics zooms 20% on pact with Amazon

Amazon has entered into an air cargo alliance with the company for domestic deliveries, report.

Patel Integrated Logistics is locked in upper circuit of 20% at Rs 54.30 on National Stock Exchange (NSE) on reports that the Amazon, the world’s biggest e-commerce company, has entered into an air cargo alliance with the company for domestic deliveries.

Patel Logistics has begun securing exclusive bookings from airlines such as IndiGo, Jet Airways and SpiceJet to ship Amazon's products ahead of the festive season. Patel Logistics is responsible only for moving goods from one airport to another, the Economic Times report suggests.

At 1125 hours, a combined around 110,000 shares changed hands and there are pending buy orders for 330,000 shares on NSE and BSE.