Zinka Logistics Solutions stock locked in upper circuit, BlackBuck stock jumps 40% in 8 sessions

The firm's shares have gained 40 percent over the past eight sessions.

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Shares of Zinka Logistics Solutions Ltd. are locked firmly in the five percent upper circuit on February 6 for the third consecutive session, as the stock saw only buyers, no sellers in trade.

Zinka Logistics Solutions reported widening of its losses to Rs 48 crore for the third quarter ended on December 31, 2024. The company had reported a loss of Rs 19.5 crore in the October-December quarter of the previous year. Sequentially, it reported a loss of Rs 269 crore in July - September quarter of the current fiscal.

The revenue from operations jumped 41 percent to Rs 113.9 crore in the third quarter of the current fiscal from Rs 80 crore in the year-ago period, Zinka Logistics Solutions Ltd said in a regulatory filing.

At 12.18 pm, BlackBuck's stock was locked at Rs 466.2, higher by 5 percent on the NSE. From January 28, the stock has galloped 40 percent over the past eight sessions, settling in the green all eight times.

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BlackBuck's earnings beat the most aggressive estimates, noted brokerage JM Financial. The company continues to post strong adjusted EBITDA profitability driven by recurring revenue streams with rampant operating leverage.

The brokerage maintained its 'buy' rating, with a price target of Rs 580 per share.

BlackBuck’s revenue grew at a CAGR of 63 percent over FY22-24, with the company turning adjusted EBITDA profitable in H2FY24. JM Financial forecasts the company to maintain the momentum with a revenue CAGR of 37 percent from FY24 to FY27.

Zinka Logistics, through its Blackbuck platform has established itself as India’s largest digital platform for truck operators, facilitating 413.34 million transactions and capturing 27.52 percent of the truck operator market as of FY24. It addresses core needs of truck operators such as tolling, fueling, fleet tracking, and load matching.

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