Sical Logistics Share Price Analyzed
Sical Logistics, a company that helps move goods and materials, saw its stock price jump five percent today. The stock reached a high price of ₹89.56 per share. This happened because the company got a big contract – a deal worth ₹4,038 crore – from a company called South Eastern Coalfields Limited (SECL) to work on a mining project in Chhattisgarh, India.
Key Points
- Sical Logistics stock rose 5% to ₹89.56 today.
- A ₹4,038 crore contract was secured for a mining project.
- The project is in Chhattisgarh, India, and will take 4,214 days.
- Sical Logistics handles mining, dredging, and logistics services.
- The company was acquired by Pristine Malwa Logistics Park in 2023.
- It operates across India with a market capitalization of ₹584.37 crore.
About Sical Logistics
Sical Logistics was founded in 1995 and works to manage the entire process of moving things, from start to finish. They do this for businesses involved in mining and other industries. Their work includes managing projects for Northern Coalfields and Mahanadi Coalfields, operating dredging equipment, and offering services like container freight stations and warehousing.
The Big Contract
The contract with SECL is a significant win for Sical Logistics. It’s a huge project – ₹4,038 crore – focused on an open-cast mining operation in the Porda Chimtapani area of Raigarh, Chhattisgarh. The company will spend four years and twenty-one days working on this project, following all the rules and guidelines set out in the contract.
Company Background
Sical Logistics has grown its operations since its beginning. In November 2023, Southern Railway approved a new cargo terminal built by its subsidiary, Sical Multimodal. This demonstrates their ability to work with government entities and expand their logistics network.
Ownership & Relationships
It’s important to know that the company’s owners and related businesses don’t have any links to SECL, meaning this contract isn’t a special deal. This adds to the transparency and credibility of the company’s operations.
”This contract represents a significant step forward for Sical Logistics, showcasing its capabilities and expanding its operational reach within the Indian mining sector.”
