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Allcargo’s strong Q4 show and better prospects to make its delisting more expensive

Business
By Dustin Moskovitz
Allcargo’s strong Q4 show and better prospects to make its delisting more expensive
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According to the delisting laws, the company has one year or till September to submit the final application to the stock exchanges.

Synopsis

Allcargo had passed a special resolution last October to delist the company where the promoter group holds 70% stake. The delisting floor price was set at Rs 92.6.

ET INTELLIGENCE GROUP: Analysts have upgraded price targets for Allcargo Logistics by over 30% from the current stock price of Rs 153.8 following the company’s stellar March 2021 quarter performance and focus on reducing debt by selling non-core businesses. While this presents a buying opportunity for investors, it may in fact make the promoter group’s delisting plan more expensive.

Allcargo had passed a special resolution last October to

BY

ET Bureau

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