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Saturday, October 23, 2021

Adani joins Allcargo in Vedanta’s list, 20% share

 

  • Allcargo Logistics Share Market decided to be delisted, Adani, Vedanta have also decided
  • Shares of All Cargo reached a 52-week high, share up 20% in the share of the company’s decision

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That is why the company is getting delisted

All Cargo Company has decided to delist from the stock market. According to the company’s move, it will help improve credit metrics, improve the financing of debt obligations, provide flexibility in operations, discover new financial structures and cut compliance costs. The proposal will be placed before the company board on 27 August. According to the information, the members of the promoter group hold a total of 17.2 million shares, up to 70.01 per cent of the paid-up equity share capital of the company. The public shareholding is 29.99 per cent.

A tremendous increase in the company’s shares

At the same time, this decision of the company has seen a tremendous jump in shares. The shares of the company today have an upper circuit of 20 percent. Currently, the company’s stock in BSE is trading at Rs 130.80, up by Rs 21.80. The special thing is that this stock of the company has reached a height of 52 weeks. Trading in the company’s stock is currently closed. Trading in the company’s shares stops after the Upper Circuit is set up. While the company’s stock closed at Rs 109 on Monday.

Also read: Petrol-Diesel Price Today: Petrol crosses Rs 90 in the country, expensive for 5th consecutive day; Check your city rate

Adani and Vedanta are also planning

All Cargo is now moving towards a private firm. With this, she has come in the list of other Indian companies who are planning to delist themselves from the market. According to the information, promoters of Vedanta Limited, Adani Power Limited and Hexaware Technology are in the process of getting delisted from the markets.

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