PhillipCapital, the parent company of PhillipCapital UK, has reportedly created a spike in the share price of logistics company Allcargo Logistics. This happened after reviewing its initial target price to reach an upside return potential of 30%. This development is expected to increase the logistics company's shares gain margin as its rating has now been upgraded to "buy."
Details of PhillipCapital - Allcargo Logistics Partnership
Allcargo Logistics is famous for its dealings and collaborations with other companies. Hence the company's many undulating records of profits and losses.
In Q3 of 2022 alone, the multimodal transport operations revenue, one of the company's business divisions, fell to Rs 36.7 billion. This has been estimated to be 29.4% less than the financial records of the previous year. The consolidated revenue for continuing operations also fell by a year-on-year percentage of 26.8.
On the flip side, the logistics company recorded a 5.3% year-on-year increase in revenue from Gati, the express business. Despite its undulating financial pattern, the company has remained committed to reaching new markets and further strengthening its partnerships.
As part of its expansion drive, Allcargo Logistics ensures its partnerships are built on solid structures and engage in activities that align with its goals. Hence, the "demerger of container freight stations and realty businesses," has partnered with PhillipCapital.
During this partnership period, PhillipCapital revised the initial target price of the logistics company from Rs 451 to Rs 444 and upgraded the logistics company's rating status to "buy." Analysts have projected the continued partnership between the two companies to boost Allcargo Logistics shares.
About Allcargo Logistics
Established on August 18th, 1993, as Allcargo Global Logistics Ltd, Allcargo Logistics Limited is an international logistics company. It operates primarily in India but offers its services across 160 countries with over 4000 ports globally. The company is popular for its freight services across regions, earning it a spot amongst the top logistics companies globally.
PhillipCapital Inc., a member of the PhillipCapital Group, was founded in 2010 as a Futures Commission Merchant and Broker Dealer. Its services include Insurance, stocks, real estate, and foreign currency. It is licensed by the Australian Securities and Investments Commission (ASIC) and the Financial Conduct Authority (FCA).
PhillipCapital Group has grown into the financial market in the United States and the United Kingdom, becoming a strong market competitor. PhillipCapital UK customer reviews prove the services the company renders its clientele.
The company operates in India, Singapore, Japan, China, Indonesia, Dubai, the United Kingdom, Turkey, and France. The corporation also has offices in 15 different countries.