Western Carriers (India) has been selected as the sole supply chain partner for in-plant logistics & for container rake transportation from Tata Steel for Tata Steel Sponge Iron Joda (TSSIJ) plant in Joda, Odisha for 3 years. The order value for handling contract is Rs 41 crore. Powered by Capital Market - Live

Securities in F&O Ban: Bandhan Bank, Birlasoft, Gujarat Narmada Valley Fertilisers & Chemicals (GNFC), Granules India, Hindustan Copper, IDFC First Bank, Manappuram Finance, Punjab National Bank, RBL Bank, Steel Authority of India, Tata Chemicals Upcoming results: Tata Consultancy Services, Avenue Supermarts(DMart), Tata Elxsi and Anand Rathi Wealth Stocks to watch: GTPL Hathway's consolidated net profit declined 61.69% to Rs 13.74 crore in Q2 FY25 as compared with Rs 35.87 crore in Q2 FY24. Revenue increased 9.8% YoY to Rs 855.56 crore in Q2 FY25. Western Carriers reported 8.24% increase in consolidated net profit to Rs 18.9 crore in Q2 FY25 as compared with Rs 17.46 crore in Q2 FY24. Revenue rose 5.26% to Rs 422.71 crore during the quarter. Sonata Software has partnered with with iNube to provide a digital insurance platform. Rashtriya Chemicals & Fertilisers has approved a Rs 1000 crore order to Larsen & Toubro for the establishment of a 1200 MTPD fertiliser plant. Indian Railway Finance Corporation (IRFC) has appointed Manoj Kumar Dubey as chairman, managing director and chief executive officer (CEO) for a term of 5 years. Adani Enterprises aims to raise $ 500 million through a share sale, offering approximately 14.2 million shares at a share price of Rs 2,962 each. This represents an implied discount of 6.08% to the last closing price. JM Financial has received approval from the CCI to acquire a 42.99% stake in JM Financial Credit Solutions. Additionally, the CCI has approved JM Financial Credit's acquisition of a 71.79% stake in JM Financial Asset Reconstruction Company. Fortis Healthcare has approved the issuance of Rs 1,550 crore in bonds, which will be offered through a private placement with a face value of 100,000. Britannia Industries has opened a cheese factory in Ranjangaon, Maharashtra, dedicated to producing The Laughing Cow products. This factory has an annual capacity of 10,000 tonnes for processed cheese. Additionally, it has also invested Rs. 87.50 lakh to acquire 875,000 equity shares at Rs. 10 each, which represents a 6.04% stake in the equity share capital of Suryaurja One.Powered by Capital Market - Live

Western Carriers (India) will hold a meeting of the Board of Directors of the Company on 9 October 2024.Powered by Capital Market - Live

The scrip was listed at Rs 170, exhibiting a discount of 1.16% to the issue price. So far, the stock has hit a high of 177 and a low of 164.95. On the BSE, over 9.16 lakh shares of the company were traded in the counter so far. The initial public offer (IPO) of Western Carriers India was subscribed 30.57 times. The issue opened for bidding on 13 September 2024 and it closed on 19 September 2024. The price band of the IPO was fixed between Rs 163 to 172 per share. The offer consisted of fresh issue of equity shares aggregating to Rs 400 crore and an offer for sale (OFS) of 54,00,000 equity shares of Rs 5 face value. Rajendra Sethia, the promoter of the company, is selling his entire stake. Of the net proceeds from fresh issue, about Rs 163.50 crore will be used for prepayment or scheduled re-payment of a portion of certain outstanding borrowings and Rs 151.71 crore for funding of capital expenditure requirements such as purchase of CVs, 40-feet specialized containers; 20-feet normal shipping containers, and reach stackers. The outstanding consolidated borrowings stood at Rs 352.731 crore as on 31 July 2024. Western Carriers (India) provides end-to-end, customized, multi-modal logistics solutions across the supply chain integrating road, railway, water and air logistics along with a customized suite of value-added services. The rail-focused logistics business of Rajendra Sethia, which commenced in 1972, was acquired in 2012 to evolve into the largest private, multi-modal, rail focused, 4PL asset-light logistics company in India in terms of container volumes handled and operated by private players in FY2023. Key services are 3- and 4-PL supply chain and value-added services (Vas), warehousing and stock management, CHA and stevedoring, project logistics, rail transport, road transport as well as courier, air, water freight. End-to-end services solutions are offered at every stage in the logistics value chain. The firm reported a consolidated net profit of Rs 80.35 crore and sales of Rs 1,685.77 crore for the twelve months ended on 31 March 2024.Powered by Capital Market - Live

The equity shares of Western Carriers (India) (Scrip Code: 544258) are listed effective 24 September 2024 and admitted to dealings on the Exchange in the list of ''B'' Group Securities.Powered by Capital Market - Live