AVG Logistics shares rise after stake sale by Sixth Sense India Opportunities 11
Shares of AVG Logistics were trading 1.6% higher on the NSE on September 15, a day after Sixth Sense India Opportunities 11 offloaded a 10.69% stake in the logistics company.
The stock was trading at Rs 264.50, up from yesterday’s close of Rs 251.65.
According to bulk deals data, Sixth Sense India Opportunities 11 offloaded 96,904 shares in AVG Logistics via open market transactions at an average price of Rs 255.57 per share and 11,62,477 shares at an average price of Rs 246.16 per share, which is equivalent to a 10.69% stake worth Rs 31.09 crore.
Previously, Sixth Sense India Opportunities 11 held a 21.4% stake in the company.
The sale of the stake by Sixth Sense India Opportunities 11 is likely to be seen as a positive development by investors, as it indicates that there is demand for shares in the company.
The stock has been on a strong run in recent months, with its price more than doubling since the beginning of the year.
The company’s financial performance has also been strong, with net profit increasing by 580% in the quarter ending June 2023.
AVG Logistics is a New Delhi-based logistics company offering transportation and warehousing facilities. It also offers a variety of add-on services like custom clearing as well as equipment and container rentals.
The company has a strong track record of growth and is well-positioned to benefit from the growing demand for logistics services in India.
Here are some of the key takeaways from the article:
- Shares of AVG Logistics were trading 1.6% higher on the NSE on September 15.
- The stock has been on a strong run in recent months, with its price more than doubling since the beginning of the year.
- The company’s financial performance has also been strong, with net profit increasing by 580% in the quarter ending June 2023.
- AVG Logistics is a New Delhi-based logistics company offering transportation and warehousing facilities.
- The company has a strong track record of growth and is well-positioned to benefit from the growing demand for logistics services in India.
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