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orissa bengal carrier share price: This logistics firm bags Rs 146 cr order from Vedanta; stock zooms 40% in 2 days

New Delhi: Shares of (OBCL) rallied as much as 15% on Wednesday after the company announced entering into a contract with mining major .

The Raipur-headquartered Orissa Bengal Carrier informed the National Stock Exchange (NSE) about the same in an exchange filing on Tuesday.

The NSE-listed logistics solution provider has received the Letter of Intent (LoI) from its existing customer Vedanta, led by Anil Agarwal, for the tender of aluminium finished goods transportation to the West cluster.

The period for the tender shall be one year whereas the approximate value of the same shall be Rs 146 crore, the company told the exchange. The company has already accepted the LoI, it added.

Following the announcement, shares of Orissa Bengal Carrier zoomed over 15% to Rs 109.60 on Wednesday, before trading at Rs 107.15 at 9.50 am. The scrip had settled at Rs 95.15 on Tuesday.

The company said the contract is in the ordinary course of business and none of the promoters or promoter group has any interest in the aforementioned contract. It does not fall within the ambit of related party transactions.

Shares of Orissa Bengal Carrier have jumped close to 40% in the last two sessions as the scrip added another 20% on Tuesday. However, it has lost one-third of its value in 2022 so far.

The company has more than 112 fleets and 40 branches across India. The company provides industry-focused solutions integrated with an asset-light business model.


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