Navkar Corporation’s board nods at transfer of assets to Adani Logistics

After the company’s board approved the transfer of its title, rights, interest, and ownership of movable assets worth Rs1,73.96 crore to Adani Logistics, the stock price of Navkar Corporation increased by over 7%. The company plans to use the money for corporate expansion and the acquisition of additional trailers for a new project at the Morbi-based Inland Container Depot.

Navkar Corporation was trading at Rs60.30 at about 3:01 PM, up 4.78% from its previous BSE close of Rs57.55. The intraday high and low for the counter were Rs. 61.70 and Rs. 56.45, respectively. A logistics firm is called Navkar Corporation. It offers solutions for managing hazardous and maritime cargo, empty container storage, warehousing, inspection and clearing of rail terminals, consolidation, buffer yards, reefer containers, and other related services.

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