Mahindra Logistics witnessed a 1.5% rise in early trading on January 29 following the company’s announcement of a 1 lakh sq ft expansion to its warehouse in Nashik, Maharashtra.
In addition to the expansion, the company revealed plans for a new 3 lakh sq ft facility, thereby increasing its warehousing footprint to a total of 5 lakh sq ft in Nashik. Described as the largest warehousing space provided by any service provider in the region, Mahindra Logistics disclosed this information in an exchange filing on January 26.
Nashik, being a pivotal hub serving as both an industrial and consumption cluster, holds strategic significance. The expansion in Nashik allows Mahindra Logistics to enhance its portfolio of integrated solutions for clients in the region, according to Managing Director Rampraveen Swaminathan.
As of 9:45 am, Mahindra Logistics shares were trading 2.48% higher at ₹443.95, reflecting positive market sentiment in response to the company’s strategic expansion initiatives.
