Shares of this BSE-listed company in focus after it submits application for mainboard NSE listing – Check details
Shares of BSE-listed Tiger Logistics (India) Ltd are in focus today as the company 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 strategic move, listing on India’s largest stock exchange, NSE, is expected to significantly enhance the company’s visibility and market reach. Moreover, the listing on NSE is anticipated to attract a wider range of investors, including institutional investors, thereby potentially boosting the company’s growth and value.
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 55.34 on the BSE. The counter gained from here to reach the intraday high of Rs 54.35, representing a gain of 1.84 per cent from the closing price of the last trading session. This performance is in line with the overall market trend, which has seen similar fluctuations in recent days.
Stock has been losing for the last two days and has fallen 1.7 per cent in the period. The scrip is currently trading higher than the 100-day moving averages but lower than the 5-day, 20-day, 50-day and 200-day moving averages. This suggests a short-term bearish trend but a long-term bullish trend, indicating potential volatility in the stock’s price in the near future.
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 delivered impressive returns, a multibagger return of 1404 per cent in five years and 152 per cent in three years. This strong performance over the years reflects the company’s potential. However, it has corrected 23.33 per cent on a YTD (year-to-date) basis, which is a normal part of the market cycle.
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.
From 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 at Rs 6,243.72 crore, impacted by the implementation of changes in non-performing assets and loan upgrade policy.
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