Allcargo Logistics share price jumps over 9% after boards approve business restructuring
₹299.55 apiece on BSE today. Allcargo Logistics stock price touched an intraday high of ₹312.05 and an intraday low of ₹299.40.
Analysts believe that the long-term structure of the Allcargo Logistics stock price is favourable. The main support level is at ₹280; higher levels of ₹340 are gradually anticipated.
Also Read: Zomato share price gains 1% as it denies of any acquisition plans in unrelated business. Jefferies sees upto 28% upside The International Supply Chain (ISC) business will be merged into a new company called Allcargo ECU Limited, the company stated in its exchange filing.
Together with the foreign subsidiaries owned by ECU Worldwide NV, this would also include the International Supply Chain business's portion pertaining to India. Following the ISC demerger, the express and contract logistics businesses would merge to form Allcargo Logistics, which would gain from the combined synergies.
Direct shareholding would be granted to the shareholders of Allcargo and Allcargo Gati, doing away with the need for an ineffectively complicated corporate structure. "Exciting news! Mint is now on WhatsApp Channels
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