India's Allcargo Logistics climbs on Blackstone's $53 mln investment

Allcargo Logistics

14/01/2020 04:10

** Shares of logistics solution provider Allcargo  ACLL.NS 
rise as much as 5.5% to 109.70 rupees, their highest since Nov
8, 2019
    ** Allcargo on Monday said Blackstone Group through BRE Asia
Urban Holdings will invest up to 3.80 bln rupees ($53.65 mln) in
co's warehousing business  urn:newsml:reuters.com:*:nFWN29G1FY
    ** Over 312,000 shares change hands, compared with 30-day
avg of 180,000 shares, as of 0354 GMT
    ** Co shares dropped 8.9% in 2019, and gained 6.72% so far
this year as of last close  
    
    ($1 = 70.8250 Indian rupees)

 (Reporting by Nallur Sethuraman in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 8067496031); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))