Page 4 - Logistics Industry

Logistics management firm Locad raises $11 million in Series-A funding

Locad's logistics engine works with brands such as Levi's, Reckitt Benckiser, and Emma Sleep

Logistics market glows like a 'supernova' with entry of global behemoths

Most of the players are looking to invest anywhere between $ 500 million to a $ 1 billion in the new ventures in the next couple of years

Delhivery to acquire supply chain solutions firm Algorhythm Tech

Algorhythm offers end-to-end supply chain planning and execution products to clients

Welspun One Logistics Parks Fund 1 commits Rs 500 crore warehousing AIF

Creates a portfolio of Rs 2,300 crore across five cities, aggregating to about 6.6 million square feet of gross leasable area

Global freight rates down 30% YoY; steel, auto, and pharma to benefit

However, average container prices are still 2-3 times higher compared to pre-pandemic levels

Allcargo Logistics Sept-quarter consolidated PAT falls 13% to Rs 230 crore

Allcargo Logistics has reported a 13 per cent fall in consolidated Profit After Tax (PAT) at Rs 230 crore for the quarter ended September 30, 2022. The company's consolidated PAT in the year-ago period was Rs 263 crore, as per a regulatory filing. The income from operations rose 6.5 per cent to Rs 5,300 crore in the reporting quarter as against Rs 4,978 crore in the second quarter of FY22, as per the filing. Earnings before income, taxes, depreciation and amortisation (EBITDA) during the quarter stood at Rs 450 crore. "We have posted the highest-ever Q2 revenue and EBITDA and also the highest margin ever for any quarter, this time, said Shashi Kiran Shetty, Chairman, Allcargo Logistics, ECU Worldwide and Gati Ltd. On the board's approval to the company's plans to buyout the remaining stake in GKEPL, Shetty said. "We share an extremely close relationship with KWE group built on mutual respect and that will continue across businesses. With this acquisition, we will be able to exped

Transportation theme catches fund houses' fancy as stocks outperform

Line up new fund offers following sharp outperformance by stocks in the space

Blue Dart Express' volume growth momentum likely to sustain in FY23

Margin levels could see an improvement on higher volumes, price hike

Warehousing transaction volumes grew 62% YoY in FY22: Knight Frank

NCR and Mumbai led the market on overall volumes, while Pune and Hyderabad witnessed the highest percentage growth, at 166% and 128%, respectively

Top headlines: DGCA extends curbs on SpiceJet; Wipro fires 300 employees

The Cabinet on Wednesday approved the national logistics policy, which aims at reducing transportation cost and improve global performance of the sector.

Union Cabinet to approve National Logistics Policy on Wednesday: Report

The Union Cabinet is likely to approve the National Logistics Policy in its meeting on Wednesday, sources said. Prime Minister Narendra Modi last week unveiled the policy which seeks to cut transportation cost by promoting seamless movement of goods across the country. While launching the policy, the prime minister had said that "from 13-14 per cent (of the GDP), we should all aim to bring the logistics cost to single-digit as soon as possible". According to an e-book of the department for promotion of industry and internal trade (DPIIT), an unified logistics interface platform (ULIP) will be developed as part of the policy to help different government and private agencies; shippers, service providers enable information exchange on a real time basis in a confidential manner. Development of ULIP is one of the eight interventions proposed under the comprehensive logistics action plan, through which the policy will be implemented. The other interventions proposed include Standardisat

Does new logistics policy make related-stocks a favourable bet?

Logistics stocks traded mixed on Monday after the govt announced National Logistics Policy. It aims to integrate and develop a technologically-enabled logistics ecosystem in India. Here's a report

Reduced logistics expense under NLP to benefit customers: Flipkart

Increase in efficiency and reduction in logistics expenses with the newly-launched National Logistics Policy will benefit customers by making products available at lower cost, e-commerce company Flipkart said on Monday. Prime Minister Narendra Modi on Saturday unveiled the National Logistics Policy that seeks to address challenges facing the transport sector and bring down the logistics cost of businesses from 13-14 per cent to a single digit. At a grand launch event, he had said the policy aims to expedite the last-mile delivery, helping businesses save time and money. "The National Logistics Policy is a welcome move and this along with PM Gati Shakti plan will help build a more resilient logistics ecosystem in the country. Along with improving efficiency across the value chain, it will also result in a considerable reduction in logistics costs from their present level, thereby benefiting the end customer with lower costs," Flipkart Group Chief Corporate Affairs Officer Rajneesh ..

Decoded: What is National Logistics Policy and how will it get implemented?

The policy will be implemented through a Comprehensive Logistics Action Plan (CLAP), which will include key action areas

National Logistics Policy has potential to usher ease of moving: India Inc

The National Logistics Policy unveiled by Prime Minister Narendra Modi on Saturday will substantially reduce transportation costs across the entire supply chain and has the potential to usher in "ease of moving" in the country, India Inc said. The prime minister unveiled the National Logistics Policy that seeks to address challenges facing the transport sector and bring down the logistics cost of businesses from 13-14 per cent to a single digit. At a grand launch event, he said the policy aims to expedite the last-mile delivery, helping businesses save time and money. While the new policy addresses challenges of the logistics sector, it together with the infrastructure augmentation plan PM GatiShakti will address gaps, he said. CII Director General Chandrajit Banerjee said besides improving ease of doing business and ease of living, the policy along with other pillars of the PM Gati-Shakti has the potential to usher in an unprecedented era of 'ease of moving' in the country, ensuri

National Logistics Policy to boost ease of doing business: Gadkari

Union minister Nitin Gadkari on Saturday said that the National Logistics Policy which focuses on re-engineering, digitisation and multimodal transport, would further boost 'ease of doing business' for all industries and stakeholders. The road transport and highways minister in a tweet further said the policy will completely change India's logistics sector, boost seamless movement of goods and reduce carbon footprints. Prime Minister Narendra Modi on Saturday unveiled the National Logistics Policy that seeks to address challenges facing the transport sector and bring down the logistics cost of businesses from 13-14 per cent to a single digit. At a grand launch event, Modi said the policy aims to expedite the last-mile delivery, helping businesses save time and money. While the new policy addresses challenges of the logistics sector, it together with the infrastructure augmentation plan PM Gati Shakti will address gaps, the prime minister added. The Union government has been workin

Temp staff hiring to rise as consumers return to stores in festive season

During the festive season, more than 500,000 short-term jobs are expected to be created

45 data centres spanning around 13 million sq ft to come up by 2025

Over 69% of new IT capacity of 1,015 Mw will come up in Mumbai and Chennai, with 51% in Mumbai alone

Logistics firm Delhivery to create 75,000 seasonal jobs in next six weeks

Self-employed persons, students, retired professionals, other job seekers may sign up as last-mile agents; they only need a two-wheeler, valid driving license and smartphone

Logistics unicorn Ecom Express sets up warehouse to serve Bengaluru

Fulfilment centre will create close to 1000 direct and indirect jobs, says company