Tara Chand’s shares rise 2% after securing ₹110-crore contract from SAIL

Madhu Balaji Updated - March 06, 2024 at 02:35 PM.

Tara Chand has been appointed as the consignment handling agency contractor at SAIL’s warehouse in Kalamboli, Navi Mumbai

The stocks of Tara Chand InfraLogistic Solutions Ltd increased on the NSE after the company announced securing a 4.5-year contract from Steel Authority of India Ltd. (SAIL), a Maharatna Public Sector Undertaking of the Government of India.

According to the stock exchange filing, Tara Chand company has been appointed as the consignment handling agency contractor at SAIL Warehouse, Kalamboli, Navi Mumbai.

The contract is estimated at ₹110 crore.

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The company has mentioned that in addition to this contract, its order book surged to ₹316.24 crore, recording a 55 per cent y-o-y growth.

Tara Chand InfraLogistic Solutions’ stock surged by 2.03 per cent on the NSE to trade at ₹168.60 as of 2.04 pm.

Meanwhile, the stock of SAIL Ltd declined by 2.10 per cent on the NSE to trade at ₹137.30.

Published on March 6, 2024 08:58