AVG Logistics gains 2%; Sixth Sense India Opportunities offloads stake

According to bulk deals data, Sixth Sense India Opportunities 11 offloaded 96,904 crore shares in AVG Logistics via open market transactions at an average price of Rs 255.57 per share.

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Shares of AVG Logistics were trading 1.6 percent higher on the NSE on September 15. A day before on September 14, Sixth Sense India Opportunities 11 offloaded a 10.69 percent stake in the logistics company. As of 10 am, the stock was trading at Rs 264.50, up from yesterday’s close of Rs 251.65.

According to bulk deals data, Sixth Sense India Opportunities 11  offloaded 96,904 shares in AVG Logistics via open market transactions at an average price of Rs 255.57 per share and 11,62,477 shares at an average price of Rs 246.16 per share, which is equivalent to a 10.69 percent stake worth Rs 31.09 crore. Previously, Sixth Sense India Opportunities 11 held a 21.4 percent stake in the company.

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On the same day, India Emerging Giants Fund Limited (Multi Opportunity), India Emerging Giants Fund, Blue Lotus Capital Multi Bagger Fund II  bought 6 lakh shares or 5.09% stake in the company at an average price of Rs 246 per share.

For the quarter ending June 2023, AVG Logistics reported an increase in net profit to Rs 2.53 crore from Rs 0.04 crore in June 2022. For the same period, it reported a 3.5 percent year-on-year increase in net sales to Rs 100.34.

Also read: India aims to improve Logistics Performance Index ranking to top 25 by 2030

AVG Logistics is a New Delhi-based logistics company offering transportation and warehousing facilities. It also offers a variety of add-on services like custom clearing as well as equipment and container rentals.

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