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TCI advances on receiving nod to acquire entire stake in SCM Logfocus India

  • May-17-2018
  • 9:47:00 Hrs IST

Transport Corporation of India (TCI) is currently trading at Rs. 287.15, up by 14.55 points or 5.34% from its previous closing of Rs. 272.60 on the BSE.

The scrip opened at Rs. 287.00 and has touched a high and low of Rs. 298.95 and Rs. 279.55 respectively. So far 17,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 349.65 on 06-Jul-2017 and a 52 week low of Rs. 246.25 on 24-May-2017.

Last one week high and low of the scrip stood at Rs. 298.95 and Rs. 269.00 respectively. The current market cap of the company is Rs. 2,197.77 crore.

The promoters holding in the company stood at 66.11%, while Institutions and Non-Institutions held 12.70% and 21.19% respectively.

Transport Corporation of India (TCI) has received an approval for acquisition of 100% equity shares of SCM Logfocus India, a company incorporated under the Companies Act, 2013. Post such acquisition, SCM Logfocus India has become a wholly owned subsidiary of the company. The board of directors at its meeting held on May 16, 2018 approved the same. The board has also approved hiving off Cold Chain unit of the company.

Transport Corporation of India (TCI) is India’s leading integrated supply chain and logistics solutions provider and a pioneer in the sphere of cargo transportation in India.