ICICI Securities sees Q3 earnings to improve for Indian logistics cos

VRL Logistics

22/11/2023 07:38

** Festive season could boost earnings for most of the
Indian logistics companies in Q3 after a mixed Q2, ICICI
Securities said in a note
    ** Says weakness in export-import (EXIM) volume and EXIM
imbalance remain key concerns, though the demand scenario is
improving for companies
    ** We are now more positive on the industry as margins have
seemingly troughed for most of the companies - ICICI Securities
    ** Believes worst is over for Container Corp  CCRI.NS  and
Blue Dart Express  BLDT.NS  in terms of margins
    ** Says VRL Logistics  VRLL.NS  and TCI Express  TCIE.NS 
have cheaper valuations and better prospects
    ** BLDT, CCRI down 1% and 0.7%, respectively; VRLL dips
0.4%, TCIE mostly flat

 (Reporting by Sethuraman NR in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))