Several-bagger stock Tiger Logistics reaches a lifetime high thanks to the ICICI Bank arrangement

 Several-bagger stock Tiger Logistics reaches a lifetime high thanks to the ICICI Bank arrangement

One of the multibagger stocks that the Indian stock market has produced over the last year is the stock of Tiger Logistics (India) Ltd. This multibagger stock has increased from around 240 to 499 per share on the BSE, a growth of over 110 percent. However, it seems that the multibagger logistics stock still has some momentum. Tiger Logistics' stock price today had an upward opening and later reached a new all-time high of $499 per share on the BSE.

History of share prices for Tiger Logistics

This multibagger logistics stock has increased by 40% over the last six months, compared to a return of 15% over the past month from this multibagger company. This logistics stock has increased in price over the last year from around 240 to 499 each, yielding a return of 11%. This multibagger stock has increased from around $30 to $499 per piece during the post-Covid recovery, generating about 1,550 percent over the last three and a half years.

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News about Tiger Logistics

After Tiger Logistics announced on Tuesday that it had formed a deal with ICICI Bank to enable integrated banking and end-to-end shipping for exporters and importers, the logistics company's stock price has been on the rise.

Tiger Logistics (India) Limited announced the partnership with ICICI Bank by stating, "This first-of-its-kind collaboration between ICICI the bank as well as an end-to-end global logistics company Tiger Transportation marks a significant milestone and synergy in the evolution of what are two distinct yet interlinked sectors - global logistics along with banking, providing consumers and businesses with a seamless and comprehensive shipping remedy for their global trade requirements."

In response to strong Q2 results, IIFL Securities shares rose 3.7%, setting a new 52-week high.

Through this partnership, Tiger Logistics' proprietary digital freight booking and management platform, FreightJar, and the ICICI Trade Emerge platform will be fully integrated. This collaborative partnership represents an important step in integrating the banking and logistics industries.

Chairman and Managing Director of Tiger Logistics, Harpreet Singh Malhotra, commented on the news by saying, "We are enthusiastic about the relationship between Tiger Logistics and ICICI Bank. By streamlining their international logistics and trade finance processes and lowering overall logistics costs, this strategic alliance will benefit importers and exporters. By integrating FreightJar into the ICICI Trade Emerge platform, we are making considerable progress toward improving the accessibility, effectiveness, transparency, and cost-effectiveness of international trade.