India's VRL Logistics rises as brokerage sees Q2 margin lift from price hike

VRL Logistics

03/09/2024 09:54

** Shares of VRL Logistics  VRLL.NS  jump 9.2% to 576.65
rupees, set for their best day since May 2023, if gains hold 
    ** Co's 10% price hike - an increase after several quarters
- should push margins from Q2FY25 itself, brokerage Motilal
Oswal says   
    ** Brokerage retains "buy" rating, TP 660 rupees on co's
stock 
    ** VRLL, on an avg, rated "buy"; median TP 655 rupees, as
per LSEG data 
    ** Good monsoons and rural economy pick-up to support volume
growth in second half of FY25, Motilal Oswal says in a note 
    ** Brokerage expects organised pan-India players such as VRL
Logistics to gain market share and new customers 
    ** Stock eyes busiest trading session since Dec 2022,
trading volume at 8x the 30-day avg 
    ** Session's move trims stock's YTD losses to ~25% 

    

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