Continuing its rally for the third consecutive trading session, shares of BlackBuck’s parent Zinka Logistics Solutions surged to hit its upper circuit of INR 499.05 today
The stock is now up 78.10% from its listing price on November 22
Today’s rally in the stock came despite the benchmark indices BSE and NSE ending in the red
Continuing its rally for the third consecutive trading session, shares of BlackBuck’s parent Zinka Logistics Solutions Ltd surged as much as 10% to hit its upper circuit of INR 499.05 on the BSE today (December 19).
However, the stock pared some gains to end the day’s trading session 9.5% higher at INR 497 on the BSE.
The company’s market capitalisation stood at INR 8,770.99 at the day’s session end and as many as 11.05 Lakh shares traded during the day.
The stock has given a return of 13.85% in the last five sessions, far surpassing the BSE’s negative return of 1.88% during the given period. Meanwhile, it is up 78.10% since its listing on November 22.
Not to mention, the stock debuted at a modest premium of 2.2% at INR 279.05 on the BSE against the IPO issue price of INR 273.
Today’s rally in the stock comes despite the broader Indian benchmark indices like BSE and NSE ending in the red, as the Federal Reserve, while announcing a quarter percentage point rate cut, said there will be only two additional cuts in 2025.
While Sensex fell 1.2% (or 964.16 points) to end the day’s trade at 79,218.05, Nifty 50 was also down 1.02% (or 247.15 points) at 23,951.70 for the day.
Since the company, on December 13, reported a net loss of INR 308.38 Cr in the September quarter of fiscal year 2024-25 (Q2 FY25), its stock has increased 17.39%.
This INR 308.38 Cr loss was a 7.8X increase from the INR 39.67 Cr loss it registered in the year-ago quarter.
The company incurred a share-based payment expense of INR 320.74 Cr for the quarter, which if not applied, would have yielded a net profit of INR 38.92 Cr during the quarter under review.
Its top line also grew in the period under review, with revenue from operations increasing 56% to INR 98.77 Cr in Q2 FY25 from INR 63.37 Cr in the year-ago quarter. Sequentially, revenue increased 7% from INR 92.16 Cr.
Founded in 2015 by Rajesh Yabaji, Chanakya Hridaya and Rama Subramaniam, BlackBuck
commenced operations as a truck aggregator. Since then, the company has diversified and now offers a full stack of solutions – from load management and telematics to payments for fuel, FASTag or toll charges, and truck financing.
The company operates a B2B marketplace specialising in intercity full truckload transportation.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
