Shares of Western Carriers (India) Limited (WCIL) surged almost 10% to ₹126.05 in early trading on January 3, following the announcement of a major material handling contract with Vedanta Limited. The contract, valued at ₹139 crore, has boosted investor sentiment, highlighting the company’s growing prominence in the logistics sector.
Why are shares rising?
The rally in WCIL’s stock price is attributed to the strategic importance of the newly secured Vedanta contract, which underscores the company’s capabilities in handling large-scale operations and strengthens its market position.
Key highlights of the Vedanta contract:
- Awarding Entity: Vedanta Limited, a leading natural resources company in India.
- Contract Value: ₹139 crore, marking a significant milestone for WCIL.
- Scope of Work:
- Import Handling: Efficient management of inbound raw materials.
- Domestic Logistics: Streamlining movement of finished goods within India.
- Export Operations: Facilitating export of finished products to international markets.
- Duration: A four-year fixed tenure, ensuring long-term business stability.
- Transparency: WCIL clarified that neither its promoters nor related entities have any vested interest in Vedanta, ensuring a clean and transparent transaction.
Western Carriers secures Rs 139 crore material handling contract from Vedanta
The partnership with Vedanta not only reinforces WCIL’s reputation as a reliable logistics partner but also reflects its ability to execute large and complex projects. This contract is expected to contribute positively to the company’s revenue and operational performance over the coming years.
WESTERN CARRIERS (IND) Share Price history
| Day | Open | Close | Change % |
|---|---|---|---|
|
Thu, Jan 2 2025
|
₹115.80
|
₹115.90
|
|
|
Wed, Jan 1 2025
|
₹114.05
|
₹115.04
|
|
|
Tue, Dec 31 2024
|
₹114.70
|
₹114.05
|
-0.57%
|
|
Mon, Dec 30 2024
|
₹120.89
|
₹114.70
|
-4.42%
|
|
Fri, Dec 27 2024
|
₹112.80
|
₹120.00
|
|
|
Thu, Dec 26 2024
|
₹112.90
|
₹111.93
|
|
|
Tue, Dec 24 2024
|
₹111.95
|
₹110.73
|
-0.28%
|
|
Mon, Dec 23 2024
|
₹114.05
|
₹111.04
|
-1.22%
|
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