February 20, 2024

Within the final yr, the inventory has declined 5 % towards Nifty’s 21 % return throughout the identical interval.

Mahindra Logistics Restricted was buying and selling 1.5 % greater early on January 29 after the corporate introduced a 1 lakh sq ft growth of its warehouse in Maharashtra’s Nashik.

The corporate additionally introduced a brand new 3 lakh sq ft facility, taking it warehousing footprint to five lakh sq ft in Nashik. “This would be the largest warehousing area provided by any service-provider within the area,” the corporate mentioned in an change submitting on January 26.

Story continues under Commercial

“Nashik occupies a strategic place, serving as each an industrial and consumption cluster, thereby enriching the general enterprise ecosystem for firms. Our newest growth in Nashik permits us to broaden our portfolio of built-in options for our clientele within the area,” managing director Rampraveen Swaminathan mentioned.

At 9.30 am, the counter was buying and selling at Rs 437 on the Nationwide Inventory Trade (NSE), up 0.9 % from the earlier shut. Prior to now yr, the inventory has declined 5 % towards Nifty’s 21 % return.

Observe our market weblog for all of the reside motion

The brand new amenities will supply inbound logistics and distribution options for automotive, engineering items, and client durables prospects, incorporating technology-enabled and automatic processes with end-to-end visibility, the corporate mentioned.

The corporate just lately revealed a plan to construct a warehousing facility in Phaltan, close to Pune, with an funding of Rs 170 crore. The 6.5 lakh sq. toes will probably be developed in two phases. The primary section, protecting 3.5 lakh sq. toes, is anticipated to get operational by the top of 2024.

Disclaimer: The views and funding ideas expressed by funding specialists on Moneycontrol.com are their very own and never these of the web site or its administration. Moneycontrol.com advises customers to test with licensed specialists earlier than taking any funding selections.

Story continues under Commercial