The new 2 lakh sq.ft. sorting centre at Gur" />
The new 2 lakh sq.ft. sorting centre at Gur" />
Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

Ground-breaking ceremony by TCI Express for new Sorting centres at Gurugram and Pune

Posted On: 2019-09-04 20:19:38

TCI Express Ltd. ("TCI Express"), market leader in express distribution in India, held an official ground-breaking ceremony for its two new sorting centres at Gurugram and Pune in Aug 2019.

The new 2 lakh sq.ft. sorting centre at Gurugram will be located at Farukhnagar and 1.5 lakh sq.ft. sorting centre at Pune will be located at Chakan. The construction is expected to be completed by end of the current fiscal year and operations are anticipated to begin from Q1 FY2021.

The owned sorting centres align with strategic objectives of TCI Express and provide necessary impetus to the company's growth trajectory, higher utilization and operational reliability. This will also create ample opportunities for investment in complete automation and implementation of business intelligent tools which will result in direct cost reduction benefits, shorter turnaround time and enhanced operational efficiencies in the long run.

Considering the recent developments, we have revised our expected Capex expenditure target for the fiscal year to Rs. 80 crore compared to previously envisaged Rs. 60 crore. This Capex will be primarily utilized for construction, automation and IT infrastructure development for the sorting centres. The entire expenditure will be funded through internal accruals.

Commenting on the performance, Mr. Chander Agarwal, Managing Director, said: "I am pleased to report that we recently held ground-breaking ceremony for two new sorting centres at Gurugram and Pune. The new sorting centres, cumulatively at 3.5 lakh sq. ft., are expected to become operational from FY2021. These new centres will boast state of the art IT Infrastructure and complete automation which will further improve our turnaround time, reduce direct cost and generate higher operational efficiencies. The target capital expenditure outlay for the year has been revised to Rs. 80 crore, which will essentially be utilized towards construction and IT infrastructure. The investment in two new sorting centres will generate new growth opportunities for business and create value for all our stakeholders in the long run."

Shares of TCI Express Ltd was last trading in BSE at Rs.630 as compared to the previous close of Rs. 625.35. The total number of shares traded during the day was 13990 in over 367 trades.

The stock hit an intraday high of Rs. 631 and intraday low of 620.1. The net turnover during the day was Rs. 8770154.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Vinyl Chemicals India Ltd Q3 PAT up QoQ to Rs. 3.88 crore

CIL's output up 10.7% in Jan'20

WABCO India Ltd Q3 PAT up QoQ at Rs. 38.69 crores

IndiGo appoints Ronojoy Dutta as Whole Time Director & CEO

YES BANK launches XLrate Savings Account, offering higher returns for customers

GAIL organises Industry Meet on Digital Transformation

Sundram Fasteners Ltd commences commercial production at Sri City plant

Alembic Pharmaceuticals announces USFDA Final Approval for Azithromycin Tablets USP, 600 mg

Ujjivan Small Finance Bank Ltd announces resignation of Mr. Sachin Bansal as independent director

Vindhya Telelinks Ltd board to consider Q3 results on Feb 7, 2020

Godfrey Phillips India Ltd clarifies on stake sale by promoter entities

Cipla Ltd receives EIR for Invagen facility

Karnataka Bank board approves QIP

HCL Infosystems Reports Revenue of Rs. 429 Crore in Q3 FY20

Adani Green Energy Ltd allotted 700 MW Wind - Solar Hybrid Power Project

CCL Products (India) Ltd board declares interim dividend of Rs. 2

Maruti Suzuki announces price increase of select models from Jan 27, 2020

NTPC to acquire stake in in NEEPCO, THDC from Government of India

Music Broadcast Ltd Board recommends 1:4 Bonus Issue

Mount Shivalik Industries Ltd announces end of lease agreement for restaurant

Karnataka Bank Limited board recommends 1:10 bonus issue

CCL Products India Ltd Q3 consolidated net profit climbs to Rs. 46.99 crores

Confidence Petroleum India Ltd consolidated Q3 PAT at Rs. 18.05 crores

Kriti Industries India Ltd posts net profit of Rs. 3.98 crore in Q3 FY20

Bhansali Engineering Polymers Ltd reports Rs. 16.91 crores PAT in Q3

IIFL Finance Ltd Q3 consolidated PAT jumps to Rs. 153.36 crores

V2 Retail Ltd Q3 FY20 net profit at Rs. 20.75 crores

Music Broadcast Ltd Q3 net profit at Rs. 10.18 crore

United Spirits Ltd consolidated Q3 net profit up at Rs. 235.3 crores

Gulshan Polyols Ltd posts net profit of Rs. 4.77 crore

Artson Engineering Ltd reports Q3 FY20 loss of Rs. 1.20 crore

SNL Bearings Ltd Q3 PAT lower at Rs. 0.50 crore

Gandhi Special Tubes Ltd Q3 PAT slides to Rs. 4.54 crore

Vinyoflex Ltd Q3 net profit at Rs. 0.62 crore

JK Paper Ltd consolidated Q3 net profit rises to Rs. 131.86 crores

TATA Steel Long Products Ltd posts Rs. 112.19 crores loss in Q3 FY20

Prakash Industries Registers Growth in Sales Volume during Q3

Torrent Pharmaceuticals Ltd board approves fund raising of Rs. 5000 crores

Prakash Industries Ltd to participate in coal block auctions

PTC India Financial Services Ltd reports Rs. 43.06 crores consolidated profit in Q3 FY2020

Varun Mercantile Ltd posts PAT of Rs. 0.05 crore in Q3

Torrent Pharmaceuticals Ltd consolidated Q3 FY2020 net profit higher at Rs. 251 crores

H G Infra Engineering Ltd Q3 FY20 consolidated PAT slips to Rs. 33.49 crore

Reliance Chemotex Industries Ltd Q3 PAT at Rs. 2.44 crore

LMW Q3 consolidated PAT falls to Rs. 3.25 crore

Ramco Industries Ltd invests in Lynks Logistics Ltd

IndiGo reports net profit of INR 4,960 million and EBITDAR of INR 19,607 million in Q3 FY20

Suncare Traders Ltd Board approve Sub-Division of Equity Shares & Bonus Issue

HDFC Q3 consolidated PAT rises YoY to Rs. 3835.38 crores

Shanthi Gears Ltd reports lower PAT of Rs. 6.09 crores in Q3







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019