Shares of Tiger Logistics soar on signing alliance partnership agreement with ICICI Bank

ICICI Bank has signed an alliance partnership agreement with Tiger Logistics to facilitate integrated banking and end-to-end logistics for exporters and importers This first-of-its-kind collaboration between ICICI Bank and an end-to-end global logistics company. Tiger Logistics marks a significant milestone and synergy in the evolution of two distinct yet interlinked sectors – global logistics and banking, providing importers and exporters with a seamless and comprehensive shipping solution for their global trade requirements.

This collaboration will seamlessly integrate the ICICI Trade Emerge platform with Tiger Logistics’ proprietary digital freight booking and management platform, FreightJar. This strategic alliance signifies a significant milestone in bridging the gap between the logistics and banking sectors.

The partnership will empower exporters and importers with easy access to competitive freight rates and a comprehensive solution for their global trade needs. It will enable the Trade Emerge users to receive instant quotes, streamline documentation processes, and gain visibility into their shipments. Furthermore, they can access quick financing options from ICICI Bank, simplifying their international trade operations.

Tiger Logistics (India) is a leading Third-party logistics player with specialization in International Logistics handling import and export of Cargos and Projects.

Tiger Logistics (India) is currently trading at Rs 473, up by 25.70 points or 5.75% from its previous closing of Rs 447.30 on the BSE. The scrip opened at Rs 452.50 and has touched a high and low of Rs 475 and Rs 452.50, respectively. So far 33787 shares were traded on the counter.

The BSE group ‘X’ stock of face value Rs 10 has touched a 52-week high of Rs 479.75 and a 52-week low of Rs 218.00. Last one week high and low of the scrip stood at Rs 475.00 and Rs 422, respectively. The current market cap of the company is Rs 472.91 crore. The promoters holding in the company stood at 64.65%, while Institutions and Non-Institutions held 0.22% and 35.13% respectively.

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