This large-cap logistics stock rose over 18.50% in today's trade, hit 52-week high; know why

Aegis Logistics Share Price: The stock of the large-cap company Aegis Logistics made some fast moves on BSE on Friday (May 24, 2024) after the reported its fourth-quarter results during market hours. 

The stock that rose a maximum of 18.61 per cent also hit its 52-week high at Rs 746.50 having closed at Rs 629.35 in the previous season.

Aegis Logistics shares that soared in the second half of the day closed trading higher by 12.81 per cent, or Rs 80.65, at Rs 710.00 on Friday.

At close of trading on Friday, the company's market value stands at Rs 24,921.00 crore.

The company also recommended a final dividend of 200 per cent i.e. Rs. 2/- per share of the face value of Re.1 each) for the financial year ended March 31, 2024, subject to approval of members at Annual General Meeting. 

Why Aegis Logistics stocks soared today

The stock raced to the 52-week high after the company reported its January-March quarter results on Friday.

The company's profit after tax soared by 39.35 per cent to Rs 196.29 crore in the quarter under review from Rs 140.86 crore Year-on-Year. 

Its revenue from operations to slipped by 17.27 per cent to Rs 1,837.17 crore in the fourth quarter from Rs 2,154.47 crore in the same quarter last fiscal. 

What does Aegis Logistics do?

Aegis Logistics claims to be India’s leading integrated oil, gas and chemical logistics company and one of India’s top importers and handlers of LPG amongst private players.

The firm operates through its Necklace of Liquid & Gas terminals across major ports of India. It has a storage capacity of 15,70,000 KL for chemicals & POL and 1,14,000 MT of static capacity for LPG.