Allcargo Terminals has approved the acquisition of a 7.6% stake in Haryana Orbital

Allcargo Terminals provides one of India’s largest networks of Container Freight Stations (CFS) and Inland Container Depots (ICD) throughout the nation. We make it easier to handle the import and export of a wide range of goods sizes and types with our first-rate services and top-notch bonded and non-bonded warehousing facilities. You can benefit from unparalleled connectivity and flawless operations at our CFS-ICD facilities, which are ideally situated near the ports in Mumbai, Mundra, Kolkata, Chennai, and Dadri. Our ability to deliver solutions that are specifically tailored to your needs while utilizing the best modern digital tools and technology keeps us ahead of the competition and makes us the go-to partner for companies both in India and around the world. We have obtained the GSV and OHSAS accreditations, as well as the Authorized Economic Operator (AEO) certification and Customs-Trade Partnership Against Terrorism (C-TPAT) compliance, demonstrating our adherence to international standards.

Allcargo Terminals owns 7.6% of Haryana Orbital:

This correspondence serves to inform you that, in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the “Listing Regulations”), the Board of Directors of the Company convened today, Tuesday, October 01, 2024. Allcargo Logistics Limited, the company’s promoter group, has approved the purchase of 9,12,00,000 equity shares (7.60%) in Haryana Orbital Rail Corporation Limited, subject to shareholder approval. Permission to obtain a term loan from Aseem Infrastructure Finance Limited for a maximum of 140 crore rupees.

Haryana Orbital Rail Corporation Details:

A broad gauge double railway line for both passenger and freight traffic connects Palwal to Sonipat via Sohna, Manesar, and Kharkhouda, operated by the Haryana Orbital Rail Corporation (HORC). It will offer smooth connectivity to Indian Railways at Palwal, Patli, Sultanpur, Asaudha, and Harsana Kalan stations, as well as to Dedicated Freight Corridors (DFC) at Prithala station. The industrial hubs of Kharkhouda, Manesar, and Sohna will benefit from this project, which will also aid in the development of this Haryana region. After receiving approval from the Extended Board for Railways, the project has been given the go-ahead by the Ministry of Railways and the Government of Haryana.

Allcargo Terminals Ltd. stock is 2% down today:

Allcargo Terminals Ltd stock is right now trading at Rs. 43.79 per share and the low traded price today is 43.50 per share. 

Conclusion: The 7.6% ownership that Allcargo Terminals Ltd. has in Haryana Orbital Rail Corporation will aid in the company’s growth and enable the next workflow to occur soon.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.