Page 10 - Logistics Sector

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

Analysts bearish on Delhivery as volumes, integration costs weigh on Q1

Analysts, which expect improvement in the second half, are currently bearish on the stock

Blue Dart revs up for growth with more planes, greater geographical reach

The company plans to add Boeing 737 aircraft to its fleet in order to access to multiple smaller Indian airports

Blue Dart Express profit rises over three-fold to Rs 119 cr in April-June

Logistics service provider Blue Dart Express on Wednesday reported more than three-fold jump in consolidated profit after tax at Rs 118.79 crore in April-June 2022 quarter over the same period

Ecom Express to onboard over 50,000 delivery partners by September

Logistics services provider Ecom Express on Monday announced that it will onboard over 50,000 delivery partners by September-end under its flagship programme 'Ecom Sanjeev'. The company said it is expecting a spike in e-commerce order deliveries during the festival season and seeks to further strengthen its last-mile capabilities. Under the 'Ecom Sanjeev' programme launched last year, the company has created opportunities for delivery partners such as students, homemakers, freelancers and part-timers, among others, Ecom Express said. "When it comes to e-commerce order deliveries, customers expect timely service. In times when the number of parcels is continuously increasing, owing to industry growth, we have clearly seen the advantage of having gig workers to help strengthen our delivery capabilities, especially to meet the anticipated surge in customer demand during the festive season," said Ashish Sikka, Chief Strategy Officer, Ecom Express. The company, he said, will continue to

Panattoni enters India; to invest $200 mn on building 4 logistics parks

US-based Panattoni has forayed into India and will invest USD 200 million to develop four industrial and logistics parks as it seeks to tap the growing demand for warehousing spaces across major cities. Panattoni, a global leader in industrial & logistics real estate development, has debuted in the Asian market with its entry in India. Indian venture, Panattoni India Development Pvt Ltd, is headquartered in Bengaluru. In an interview with PTI, Sandeep Chanda, Managing Director India, Panattoni, sounded bullish on the long-term growth of the industrial and logistics segment of Indian real estate as demand for quality spaces rises from third-party logistic, e-commerce and manufacturing sectors. The company is holding discussions with land owners to purchase around 250 acres of land in Delhi-NCR, Mumbai, Chennai, Hyderabad, Bengaluru and Pune to develop four projects in the first phase of the India venture. 'We will be investing USD 200 million (around Rs 1,597 crore) for the ...

Shiprocket buys Arvind's omnichannel unit in Rs 200 cr stock-and-cash deal

Companies aim to reduce delivery time and improve customer experience by combining their expertise

Road-based logistics sector may see 7-9% revenue rise this fiscal: Report

The road-based logistics sector is expected to grow 7-9 per cent this fiscal on favourable demand but margins may be under pressure due to higher fuel cost, says a report. However, operators' debt coverage metrics are expected to marginally weaken in FY23 from FY22 levels. This will be largely due to the debt-funded vehicle replacement capex induced by the upcoming scrappage policy, along with the rising interest rate regime, rating agency Icra said in the report on Thursday. It has a stable outlook for the sector. The agency expects the aggregate operating profit margin to remain in the range of 12-14 per cent in FY23 compared to 14.2 per cent in FY22. Accelerated pace of business activities and lower lockdown-linked restrictions from H2 of FY22 have aided faster revenue recovery in FY22 and the growth momentum is likely to continue with an estimated 7-9 percent uptick in top line in FY23 year-on-year, the report said. The ability of the organised players to command pricing premi

InterGlobe, UPS in 50:50 joint venture to dive into India logistics market

Analysts tracking the logistics sector said that there are multiple areas where IndiGo's cargo business can benefit from a joint venture between UPS and its parent firm

Logistics firm Delhivery tests mood for India IPOs after LIC's muted debut

Delhivery is set to list on Tuesday after an initial public offering (IPO) that raised Rs 5,235 crore ($684 million) - India's second-largest this year after LIC's milestone deal

Delhivery may make it to FTSE index in Dec, MSCI India by next May: Analyst

The stock, however, is unlikely to get added to the benchmark Nifty and Sensex indices anytime soon, he says .

Gateway Distriparks' Q4 profit after tax jumps 84% to Rs 85.5 crore

The company had posted a profit of Rs 46.38 crore in the March quarter of FY21, it said in a statement

Institutional investments in real estate doubled to $1.1 bn in Jan-Mar

Office, retail, and industrial & logistics segments contributed 95% of the total institutional investment in the real estate sector during January-March period

Wiz Freight raises Rs 275 cr in Series A round from Tiger Global, Axilor

Investment in supply chain start-up marks the largest Series A funding in Indian logistics sector.

Sixth Sense Ventures leads Rs 76 cr investment in logistics start-up Prozo

The funds will be used to expand Prozo's warehousing and fulfilment footprint, client base, and technology and analytics capability, the statement said

Cutting logistics cost by 6% major challenge: Union minister Nitin Gadkari

Nitin Gadkari said that speed limit for vehicles on expressways would soon be increased to cut the fuel costs, and thereby the logistics cost.

TCI reports 94% jump in standalone PAT to Rs 78 crore in Dec quarter

The company had posted a standalone PAT of Rs 40 crore in the corresponding quarter of the last financial year

Shiprocket acquires B2B logistics aggregator Rocketbox

The Rocketbox founders will join the Shiprocket leadership team, and continue to build the cargo product as part of this deal, a statement said

Yojee teams up with Here Tech to create operations intelligence solution

Cloud-based logistics platform Yojee has teamed up with Here Technologies to create a unique operations intelligence solution to transform warehouse management for global companies

Allcargo group firm Gati Ltd looks to become Rs 3,000-cr company in 3 years

It has identified three areas, including talent acquisition and building infrastructure, to achieve the target