India's Allcargo Gati rises after announcing price hike

Allcargo Gati

26/09/2024 07:16

** Shares of Allcargo Gati Ltd  ALLA.NS  rise as much as
4.8% to 119.85 rupees
    ** E-commerce logistics co says, announced a 10.2% average
general price increase effective from Jan. 1, 2025, for its
express distribution services
    ** Says, first price increase in 4 years will help offset
rising costs due to inflation, regulatory measures
    ** Stock on track to gain for third straight week
    ** More than 2.6 mln shares traded as of 11:39 a.m. IST,
adding to over 27 mln shares traded this month so far
    ** ALLA last up 1.2%, down 6.7% YTD 

 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))