AVG Logistics Ltd acquires land in Tahliwal, Una (Himachal Pradesh) for Setting Up Warehouse and Ancillary Unit

AVG Logistics Limited (BSE - 543910, NSE - AVG), We are pleased to announce the acquisition of a land parcel admeasuring 2,295 square metres located at Tahliwal, District Una, Himachal Pradesh, for the purpose of developing warehouse and ancillary unit. The acquired land is situated near to the Nestlé factory at Tahliwal, the location of the land offers strong infrastructure support, connectivity, and easy access to manpower.

The acquisition is a strategic step in line with Company's long-term strategy focused on capacity expansion and regional diversification. The proposed unit at Tahliwal, Himachal Pradesh will enable the Company to strengthen its footprint in North India. The Company is rendering its services to Nestle India in Tahliwal, Himachal Pradesh, acquisition of land parcel will enable the company to provide value added services to Nestle India or other customers of the Company in Tahliwal.

This investment is expected to Improve cost efficiency due to its location to near key infrastructure and supply chains which would enhance the asset base and long-term value for the company, The Company believes that the development of the unit at this location will contribute positively to the company over the medium to long term.

The Company plans to commence development of the warehouse and ancillary unit in a phased manner, subject to receipt of statutory approvals and regulatory clearances.

Commenting on this, Mr. Sanjay Gupta Managing Director, said, this land acquisition is a strategic move in our growth journey. The location near a prominent hub in Una provides us the significant operational advantages. We are confident that this expansion will create longterm value for the company and stakeholders while supporting our vision for sustainable and scalable growth."

Shares of AVG Logistics Limited was last trading in BSE at Rs. 179.05 as compared to the previous close of Rs. 183.70. The total number of shares traded during the day was 937 in over 39 trades.

The stock hit an intraday high of Rs. 188.25 and intraday low of 176.85. The net turnover during the day was Rs. 170086.00.

Source : Equity Bulls

Keywords

AVGLogistics INE680Z01018 LandAcquisition