India's Allcargo Logistics climbs on buying Asiapac Equity Investment

Allcargo Logistics

04/01/2023 06:58

** Shares of Allcargo Logistics Ltd  ACLL.NS  rise as much
as 3.4% to 416.85 rupees
    ** Co says its unit entered a share purchase agreement with
Atlas Global Trading F.Z.C. to acquire entire stake of Asiapac
Equity Investment Ltd for $5 mln
    ** Asiapac Equity Investment is an investment co with units
operating in ocean freight logistics
    ** Stock at highest level since Dec. 30
    ** Over 391,000 shares traded as of 11:55 am IST, 0.6X the
30 day moving average
    ** Stock posted third consecutive annual gain, rising 3.5%
in 2022
 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com;))