Tiger Logistics joins forces with ICICI Bank
New Delhi, October 18, 2023 — Tiger Logistics, a prominent player in the Indian logistics industry, witnessed a surge in its stock price on Wednesday following a momentous development. ICICI Bank has formally entered into a strategic partnership with Tiger Logistics, marking a groundbreaking union between the banking and logistics sectors.
Commencing the trading day at Rs 447.30, Tiger Logistics saw its shares reach an opening high of Rs 477.60. This remarkable performance places the company within striking distance of its 52-week high of Rs 479.75. By the last update, the stock had surged by an impressive 6.48 percent to reach Rs 476.30 per share.
Tiger Logistics (India), a company listed on the Bombay Stock Exchange (BSE), specializes in international logistics services. In this landmark agreement, ICICI Bank will collaborate closely with Tiger Logistics to deliver seamless banking and end-to-end logistics solutions, particularly catering to the needs of exporters and importers.
This strategic alliance represents a significant milestone as it intertwines the worlds of global logistics and banking. The two seemingly distinct sectors are now harmoniously aligned, providing importers and exporters with an all-encompassing solution for their international trade requirements.
Harpreet Singh Malhotra, the Chairman & Managing Director of Tiger Logistics, expressed his enthusiasm for the partnership: “We are thrilled about the collaboration between Tiger Logistics and ICICI Bank. This strategic partnership will empower importers and exporters by streamlining their international logistics and trade finance operations, ultimately reducing the overall logistics costs.”
He further noted, “We anticipate substantial growth opportunities and increased revenue streams with this collaboration and expect its ripple effect to be felt throughout the industry.”
Over the past year, the company has demonstrated outstanding performance, with its shares surging by an impressive 235 percent, in stark contrast to the 12.07 percent return generated by the BSE Sensex.
About Tiger Logistics:
Tiger Logistics (India) Limited, headquartered in India, is a comprehensive logistics firm specializing in a wide range of services, including international freight forwarding, supply chain management, project logistics, defense logistics, cold chain logistics, and customs house agency representation.
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