Transport Corp of India hits over 2-month high after June-qtr results

Transport of India

04/08/2021 06:40

** Shares of Indian supply chain and logistics solutions
provider  TCIL.NS  gain as much as 6.5% to 473.60 rupees, their
highest since June 2
    ** TCIL on Tuesday posted a 14.9% rise in June-qtr
consolidated net profit to 468.7 mln rupees ($6.33 mln), while
total income surged 71.3% to 7 bln rupees  urn:newsml:reuters.com:*:nFWN2PA0V8
    ** Revenue rose across all its segments, including an 82.3%
gain in its freight division, after operations were impacted a
year ago due to nationwide COVID-19 lockdown
    ** "The momentum of economic recovery has been slow due to
demand-side issues due to micro area lockdowns, however volume
growth is visible across all sectors" - TCIL MD Vineet Agarwal  
 
    ** More than 168,000 shares traded by 0530 GMT, 1.7 times
their 30-day moving avg of ~97,000 shares 
    ** Up to Tuesday's close, stock had risen 77% YTD

($1 = 74.1000 Indian rupees)

 (Reporting by Anuron Kumar Mitra in Bengaluru)
 ((AnuronKumar.Mitra@thomsonreuters.com; +91 99863 58469;))