Shares of Western Carriers (India) Ltd saw a significant uptick in Thursday’s trading session, climbing as much as 3.7% intraday to touch Rs 114.8 on the Bombay Stock Exchange (BSE). The surge in buying interest followed the announcement that the company had secured a work order from Tata International Limited.
By 10:56 AM, the shares of Western Carriers were trading 2.08% higher at Rs 112.9 per share on the BSE. Comparatively, the BSE Sensex displayed a muted performance, edging up just 0.02% to 78,453.83. The logistics provider’s market capitalisation stood at Rs 1,151.07 crore at the time. Western Carriers’ 52-week high and low are Rs 177 and Rs 110, respectively.
New Work Order Boosts Sentiment
Western Carriers announced receiving a work order from Tata International Limited valued at approximately Rs 8 crore. The order pertains to container rake movement, a logistics service involving the transportation of containerised cargo using railway rakes. This method enables the efficient transfer of large volumes of goods between ports, inland container depots (ICDs), and industrial hubs.
In a regulatory filing, the company expressed its enthusiasm, stating: “We are pleased to inform you that our Company has received a Work Order from Tata International Limited.”
This development underscores Western Carriers’ strong foothold in the logistics sector and its ability to win contracts from prestigious clients.
Performance Since IPO Listing
Western Carriers made its stock market debut on September 24, 2024, but the listing was underwhelming. The stock opened at Rs 170 on the BSE, reflecting a 1.16% discount to its IPO issue price of Rs 172. On the National Stock Exchange (NSE), it listed at Rs 171, a 0.58% discount. Since its listing, the shares have declined by approximately 34.9% from the IPO price, raising concerns among investors.
Despite the lackluster performance since its debut, the company’s latest contract win could signal a positive shift in investor sentiment.
About Western Carriers
Established in 1976, Western Carriers (India) Ltd is a leading logistics and supply chain solutions provider in India. The company specializes in multimodal transportation, warehousing, and end-to-end logistics services. It serves a wide array of industries, including steel, cement, chemicals, FMCG, and consumer durables. Known for its reliability and customized solutions, the company has built a robust reputation over nearly five decades of operation.
The recent work order from Tata International marks a significant milestone for Western Carriers, reflecting its operational expertise and ability to secure high-value contracts. While the stock’s performance post-IPO has been disappointing, such developments may help rebuild investor confidence in the company’s growth trajectory. The market will closely watch how Western Carriers capitalizes on this opportunity and navigates future challenges in the competitive logistics sector.
