India's Mahindra Logistics slumps as Q2 loss widens

Mahindra Logistics

22/10/2024 08:07

** Shares of Mahindra Logistics  MALO.NS  decline 4.5% to
469.55 rupees
    ** Logistics arm of Mahindra Group reported a widened Q2
loss as freight and warehousing costs surged
    ** Stock also down amid losses in broader markets, with
Nifty 50  .NSEI  down 0.6%  .BO  
    ** Analysts' avg rating on stock is "Sell", while peers
Delhivery  DELH.NS  and VRL Logistics  VRLL.NS  are rated "Buy"
- LSEG data 
    ** Median PT on MALO is 480 rupees, a 2.3% discount on last
close 
    ** MALO has risen ~21% YTD, while DELH and VRLL are down ~4%
and ~28%, respectively 

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))