AVG Logistics Ltd’s shares were up by 0.73 per cent after the company announced bagging a long-term contract with a multinational FMCG company. The contract is valued at approximately ₹72 crore and will be executed over a period of three years.
This new business deal is expected to bolster AVG’s market presence in India, solidify its relationship with the customer, and contribute to projected double-digit growth in FY24.
Sanjay Gupta, Managing Director and CEO, said, “This award signifies our Long-term relationship with FMCG customers and testimony of our efficient integrated logistics services and capabilities. I am happy to mention that this new order would help us to achieve the FY24 revenue target and overall performance of the company in years to come.”
The shares were up by 0.73 per cent to ₹298 at 10.49 am on the BSE.