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Mahindra Logistics jumps on signing agreement with Bajaj Electricals

Mahindra Logistics is currently trading at Rs. 510.35, up by 29.80 points or 6.20% from its previous closing of Rs. 480.55 on the BSE.

The scrip opened at Rs. 500.00 and has touched a high and low of Rs. 543.00 and Rs. 500.00 respectively. So far 33486 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 543.60 on 22-Jan-2021 and a 52 week low of Rs. 199.00 on 25-Mar-2020.

Last one week high and low of the scrip stood at Rs. 543.00 and Rs. 475.75 respectively. The current market cap of the company is Rs. 3444.12 crore.

The promoters holding in the company stood at 58.35%, while Institutions and Non-Institutions held 31.49% and 10.16% respectively.

Mahindra Logistics (MLL) and Bajaj Electricals (BEL) have signed an agreement for innovative Logistics optimisation and outsourcing arrangement. This deal is a complete end-to-end redesign and outsourcing of Bajaj Electricals’ entire logistics by Mahindra Logistics, with the twin objectives of achieving enhanced & industry-best service levels, coupled with a logistics cost saving in excess of 25%.

The total contract value, of this one-of-its-kind deal in the Indian Logistics industry, will be in excess of Rs 1,000 crore over the next 5 years and is the outcome of a unique and collaborative solution. As part of the solution, MLL will be deploying a healthy mix of dedicated long-haul fleets and local distribution trucks, enabled by the latest tracking technology and control tower operations. There will also be a transition towards sustainable logistics using electric delivery trucks from EDel by Mahindra Logistics.

Mahindra Logistics provides logistics solutions, warehousing facilities, freight forwarding and supply chain management services. It also provides people transport solutions, a specialised line of business which helps corporate clients move employees to and from the workplace.

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