Allcargo Chairman Shashi Kiran Shetty also expects a brighter future for the Hyderabad-based subsidiary as it is awaiting a tax write-back of Rs 50-60 crore through the ongoing dispute settlement scheme and thus close the fiscal year with a healthy bottomline.
Shashi Kiran Shetty, Founder & Chairman of Allcargo Logistics is of the view that it is a realistic budget with more focus on rural and infrastructure development while keeping the fiscal deficit in check.
"Post this acquisition, Allcargo now owns a total of five cargo vessels making it one of the largest players in the logistics industry," the company said in a statement without disclosing the financial consideration for acquisition.
In an interview to CNBC-TV18, Shashi Kiran Shetty, Executive Chairman, Allcargo Logistics discusses logistics' growth outlook and what it means for the company.
In an interview to CNBC-TV18, Shashi Kiran Shetty, executive chairman, Allcargo Logistics shares his views on the company‘s performance and his outlook for the upcoming quarters.
Shashi Kiran Shetty, executive chairman, Allcargo Logistics shares his views on the company‘s performance and his outlook for the upcoming quarters.
In an interview to CNBC-TV18, Shashi Kiran Shetty, Founder and Executive Chairman of Allcargo Logistics spoke about the acquisition of Econocaribe Consolidators.
The Allcargo Logistics board late Wednesday approved setting aside Rs 75 crore to buyback shares with an upper limit of Rs 142.50, as it looks to revive investor interest in its stock which is hovering around the issue price of Rs 135 six years ago.
Whether in a business or in a game, the right strategy makes all the difference. This is so true for Allcargo Logistics CMD Shashi Kiran Shetty Shashi Kiran Shetty, who seems to get his strategy right most of the time.