India's VRL Logistics rises; Motilal Oswal reiterates 'buy' on price hikes, expansion

Motilal Oswal Financial Services

11/12/2024 06:21

** Shares of trucking firm VRL Logistics  VRLL.NS  up ~2% to
564 rupees ($6.65)
    ** Motilal Oswal reiterates 'buy' rating; says co's price
hikes in Q1 FY25 improved price realization per ton by 8% Y/Y
    ** Co is expanding its branch network, targeting 80-100 new
branches annually, especially in untapped markets like northeast
India - brokerage
    ** Price hikes + higher volumes from branch openings to
yield revenue growth of 12-13% over next few years, adds Motilal
    ** Motilal's PT of 670 rupees marks upside of 21% over co's
last closing price
    ** Analysts on avg rate stock at 'buy'- LSEG data
    ** YTD, shares of co have lost ~27% in value 

($1 = 84.8510 Indian rupees)

 (Reporting by Ananta Agarwal in Bengaluru)
 ((Ananta.Agarwal@thomsonreuters.com))