NECC Shares Zoom 8 pc as Logistics Industry Hopes for Infra Push in Budget. Image: Canva
The logistics sector in India is hopeful for policy interventions and a major boost ahead of the union budget 2024 which will be presented on July 23 by finance minister Nirmala Sitharaman. The sector received Rs 11 lakh crore boost in the interim budget which was presented in February by the government. A further push to the sector may unleash true economic potential of a rising India.
Shares of logistics companies are seen in bullish trend as the allied firms in the logistics sector are hopeful for infra push in Budget this year. NECC share price advanced 12.64 per cent in Monday’s trading session to quote at Rs 31 per share on the National Stock Exchange (NSE) from its previous day closing of Rs 27.52 apiece. At the time of filing this report at 2:30 PM, the counter was trading at Rs 30.30 per share on the NSE.
The counter outperformed the sector by 7.26 per cent in today’s session. The scrip is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
According to the data available on the exchanges, the counter has delivered multibagger returns of 118.14 per cent in the last three years, giving impressive returns to the investors. In the 365 days, it moved higher by 55.70 per cent.
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