Orissa Bengal Carrier Limited (OBCL) announced it has signed a contract with Sunflag Iron & Steel Co Limited for the transportation of about 26,000 tonnes of material. The deal has been confirmed to be in the ordinary course of business for OBCL, with no involvement from the company’s promoter group. It is not classified as a related-party transaction.
The shares of OBCL were trading at ₹60.25, up by ₹1.60 or 2.73 per cent, on the NSE at 12.15 pm
The company has accepted the letter of intent (LOI) and will proceed with the contract under standard business procedures. OBCL continues to expand its operations in the logistics and transportation sector, providing services to clients in the steel and manufacturing industries. This new contract is expected to enhance its service capabilities.