Shares of Aegis Logistics Ltd surged 4.43% to ₹792.50 on Tuesday, September 16, after global brokerage firm JPMorgan initiated coverage on the stock with an ‘Overweight’ rating and a price target of ₹895, indicating a potential upside of nearly 19% from current levels.
JPMorgan’s view on Aegis Logistics
The brokerage highlighted that capacity expansions, strong partnerships with marquee customers, and high entry barriers position Aegis Logistics as a long-term growth story in India’s logistics sector. It also noted the company’s strong return on capital employed (ROCE) as a factor supporting a re-rating of the stock.
Stock performance
At 9:57 AM IST, shares of Aegis Logistics were trading at ₹792.50, up ₹33.60 or 4.43% from the previous close of ₹758.90. The stock touched an intraday high of ₹793.90, with its market capitalization standing at ₹278.61 billion.
Broader logistics sector outlook
JPMorgan also initiated coverage on other logistics players:
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Delhivery Ltd. – Overweight rating with a price target of ₹575, suggesting a 22% upside.
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TCI Express – Neutral rating with a price target of ₹750.
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Container Corporation of India (Concor) – Neutral rating with a price target of ₹590, citing balanced risk-reward dynamics.
The brokerage expects India’s B2C e-commerce logistics market to grow at a 16% CAGR till FY30, outpacing the broader industry.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions.
