Transport Corporation of India up on likely gains from logistics demand

Transport of India

25/11/2024 09:01

** Shares of Transport Corporation of India  TCIL.NS  rise
3.6% to 1099.85 rupees 
    ** Share move after Motilal Oswal reiterates "buy" rating on
the logistics firm with a target price of 1,290 rupees, implying
a 22% upside in next 12 months
    ** Brokerage says TCIL well positioned to capitalize on
India's expanding logistic needs due to its diversified
portfolio and strong multimodal infrastructure
    ** Says TCIL is the only player in domestic logistics
industry that offers services across road, rail, and sea
    ** Motilal's target price is the second highest among seven
analysts tracking TCIL - LSEG data
    ** TCIL shares up 34% in 2024 so far, eying best yearly
gains since 2021

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))