The board of Shreeji Translogistics will also consider seeking approval of the shareholders through postal ballot.
Shares of Shreeji Translogistics rallied 7.70% to settle at Rs 71.63 on 20 November 2023 after announcing the addition of three locations to its Railway Rake Handling and Transportation service business. It has successfully executed Railway Rake Handling & Shifting (H&S) and Transportation services into different locations namely Vishakhapatnam (Andhra Pradesh), Bhilai (Chhattisgarh), Haridwar (Uttarakhand).
The Shreeji Translogistics stock has risen 13.22% in two sessions. It has rallied 16.9% 1 month, 14.37% in three months. However, it is down 5.12% in one year.
Shreeji Translogistics is one of the large integrated national logistical solution providers in India. The company is engaged in freight management, logistic solutions, and warehousing services. It caters a range of logistical requirements from over dimensional cargo (ODC) movement to bonded trucking movements.
The company has reported 67.24% rise in net profit to Rs 4.85 crore on a 33% increase in sales to Rs 65.45 crore in Q2 FY24 as compared with Q2 FY23.