This stock soared 965% in 5 years: Do you own?
What's the story
Tiger Logistics (India) Limited's shares soared nearly 19% in intra-day trading today. The surge came after the company announced that it had received approval from the National Stock Exchange (NSE) for the listing and trading of its equity shares. To note, it has given multibagger returns to investors by soaring an impressive 965% in the past five years (it was lised on Bombay Stock Exchange in 2013).
Strategic intent
Major milestone for Tiger Logistics
The NSE listing is seen as a major milestone in Tiger Logistics's growth journey. The company sees this move as a way to enhance its visibility in capital markets and strengthen engagement with shareholders. It believes that the listing will not only improve trading liquidity but also attract a wider base of retail and institutional investors.
Brand reinforcement
Management's take on NSE listing
The management of Tiger Logistics also emphasized that its dual presence across premier stock exchanges shall strengthen the company's brand and contribute to long-term value creation. They see the NSE listing as a catalyst for their next phase of growth and expansion, in line with the company's broader strategic roadmap. This move is expected to further support their ambitions of scaling up operations while unlocking greater shareholder value.
Market performance
A look at the stock movement
Despite the recent surge, the stock of Tiger Logistics has been in a base-building mode for some time. The small-cap stock has lost over 38% in the last one year and over 25% in the last three months.