Nandan Nilekani’s Wife Invests Rs 8.5 Crore in a Small Company

Nikhil Jain
By Nikhil Jain Business Add a Comment

Rohini Nilekani, wife of Infosys co-founder Nandan Nilekani and a philanthropist, has made a significant investment in the logistics company Allcargo Gati. She invested Rs 8.55 crore in the company’s shares through an open market transaction.

Rohini Nilekani Buys These Many Shares

According to a report by ET based on NSE block deal data, the transaction took place on Thursday. Rohini Nilekani bought 813,375 shares of Allcargo Gati, which represents a 0.62% stake in the company. The deal was done at a price of Rs 105.21 per share.

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Current Share Price Movement

The shares of Allcargo Gati, which operates in logistics, warehousing, supply chain, air freight, and e-commerce businesses, surged by 5% today. The stock reached an intraday high of Rs 116.60. The current market cap of this logistics company is Rs 1,670 crore. The Hyderabad-based company is part of the Allcargo Group.

Further Growth Potential in the Share

Several brokerage houses are optimistic about this stock. According to Trendline data, one analyst has given a “strong buy” rating for the stock. The average target price is Rs 131, which suggests a potential 20% rise in the share price. The stock is currently trading about 30% below its 52-week high of Rs 170.90 and around 30% above its 52-week low of Rs 90.

Company’s Financial Performance in June Quarter

Earlier this year, in July, the company raised around Rs 170 crore through Qualified Institutional Placement (QIP). The company is using that money to invest in technology and infrastructure. In the June quarter, the company’s revenue decreased by 4% to Rs 411 crore, and it faced a loss of Rs 2.17 crore during the same period.

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