29 Mar 2025

North Eastern Carrying Corporation Stock Surges; Bags Major EV Logistics Contract

North Eastern Carrying Corporation is currently trading at RS 22.96, up by 2.20 points or 10.60% from its previous closing of RS 20.76 on the BSE.

The stock opened at RS 23.99 and touched a high and low of RS 23.99 and RS 21.69, respectively. So far, 63,051 shares have been traded on the counter.

The BSE group 'B' stock, with a face value of RS 10, reached a 52-week high of RS 44.40 on 23-Jul-2024 and a 52-week low of RS 18.10 on 04-Mar-2025. The stock’s one-week high and low stood at RS 24.99 and RS 20.51, respectively. The company’s current market capitalization is RS 228.70 crore.

Promoters hold 54.19% stake in the company, while Institutions and Non-Institutions hold 0.04% and 45.77%, respectively.

In a significant development, North Eastern Carrying Corporation has secured a contract from Tata Steel (TSL) for the transportation of steel products, including coils, sheets, and tubes, from TSL Sahibabad to various destinations using electric heavy vehicles (EVs). This five-year contract may be extended for an additional year upon mutual agreement. The deal marks the company’s first large-scale venture into EV logistics, aligning with its strategy to expand in the sustainable transportation sector.

The company specializes in domestic and international goods transportation, commercial and industrial logistics, and warehousing services.