BSE-listed Tiger Logistics (India) Ltd has informed exchanges that it has submitted an application for the direct listing of its securities on the mainboard of the National Stock Exchange of India Limited (NSE). This is a significant move as listing on India's largest stock exchange, NSE, offers a company enhanced visibility and market reach. Moreover, the listing on NSE attracts a wider range of investors, including institutional investors.
Here's What Company Said
“It (NSE listing) is aimed at enhancing market presence, improving share liquidity, and increasing visibility among a broader investor base. The listing is expected to bolster investor confidence, support value creation for existing shareholders, and align with the Company’s long-term objectives of sustainable growth and strengthened corporate governance,” Tiger Logistics (India) said in a regulatory filing.
Share Price Today
Meanwhile, shares of the company remained volatile and started the session at Rs 54.35 against the previous close of Rs 54.34 on the BSE. The counter gained from here to reach the intraday high of Rs 54.35, representing a 1.84 per cent gain from the closing price of the last trading session.
The stock has been losing for the last two days and has fallen 1.7 per cent in the period. The scrip is trading higher than the 100-day moving average but lower than the 5-day, 20-day, 50-day and 200-day moving averages.
The 52-week high of the stock is Rs 80.44, reached on December 10, 2024, and the 52-week low is Rs 31.99, touched on July 23, 2024.
Share Price History
According to BSE Analytics, the stock has yielded a multibagger return of 1404 per cent in five years and 152 per cent in three years. However, it has corrected 23.33 per cent on a YTD (year-to-date) basis.
Stock Market Today
The 30-share BSE Sensex declined 185.67 points to 82,073.57 in early trade. The 50-share NSE Nifty dropped 45.4 points to 25,066.05.
Among the Sensex firms, Axis Bank tumbled nearly 5 per cent after the firm reported a 3 per cent dip in its June quarter consolidated net profit to Rs 6,243.72 crore, impacted by the implementation of changes in non-performing assets and loan upgrade policies.
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
