Tiger Logistics Secures ₹8.8 Crore Contract from HPCL for Specialized Air Cargo Transport
Tiger Logistics (India) Limited, a provider of international logistics solutions, has secured two significant air import contracts with Hindustan Petroleum Corporation Limited (HPCL). The business, valued at approximately ₹8.8 crore, involves the transportation and end-to-end management of specialized project cargo destined for Visakhapatnam.The contracts mandate Tiger Logistics to handle the complete logistics chain for the specialized cargo arriving from international origins. The total consignment stands at 310 MT of goods, which will be moved using three chartered flights. The cargo originates from France (80 MT) and Saudi Arabia (210 MT).
Under these agreements, Tiger Logistics is responsible for comprehensive end-to-end services. This scope includes air freight, customs clearance, and local transportation operations, ensuring the seamless movement of specialized cargo from both international origins to Visakhapatnam, India.
The acquisition of these contracts reinforces Tiger Logistics' capability in managing time-sensitive and complex air cargo movements for Public Sector Undertakings (PSUs). The assignment builds upon the company's prior experience executing specialized logistics assignments for leading public sector enterprises, including Bharat Heavy Electricals Limited (BHEL), reflecting renewed trust from HPCL.
Commenting on this business development, Harpreet Singh Malhotra, Chairman & Managing Director of Tiger Logistics (India) Ltd., stated that securing these two contracts from HPCL is a strong endorsement of the company's ability to handle complex air cargo project movements using chartered aircraft. He added that such handling requires stringent planning and seamless coordination across multiple touchpoints.
The company noted that its capacity to provide an end-to-end logistics solution allows it to manage such assignments with greater control and reliability, enabling them to deepen relationships with PSUs and undertake larger specialized projects in the future.
TIGERLOGS Stock Price Movement
On Thursday, shares of Tiger Logistics (India) Limited shed 1.47%, settling at ₹25.49 after falling ₹0.38 from the prior closing price. The equity saw a trading volume of 134,260 shares during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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