Western Carriers share price surges 12% after ₹558 crore order win from Jindal Stainless
Western Carriers share price in focus: Western Carriers (India), a recent entrant to the Indian stock market, saw its share price jump 12% in early morning trade on Thursday, June 26, reaching a 5-month high of ₹ 123 apiece following an order win from Jindal Stainless Limited.
In a stock exchange filing on Wednesday, the company informed investors that it had secured a work order valued at approximately ₹ 558 crore for the dispatch of slabs, coils, and sheet plates in DSO containers to multiple destinations across India. The contract, awarded by Jindal Stainless Limited (JSL), will be executed over a period of three years.
"This engagement further strengthens the longstanding relationship between WCIL and JSL and showcases WCIL's capability to deliver comprehensive and dependable logistics services for the manufacturing and metals sector," the company said in the filing.
Commenting on the development, Mr. Rajendra Sethia, Chairman and Managing Director of Western Carriers (India) Limited, said, "This is a prestigious mandate that reinforces our capabilities in managing large-scale, mission-critical logistics operations across India. We remain committed to delivering efficient and quality services to support the domestic industrial ecosystem.'
This marks the second order win from Jindal Stainless in less than a month. Earlier in June, the company secured a ₹ 27.73 crore contract for the hiring of trailers on a trip basis for container movement within Jindal Stainless' plant in Jajpur, Odisha, to be executed over two years.
The company made its stock market debut in September last year, listing at ₹ 171 per share, close to its IPO price of ₹ 172. It struggled over the following eight months, closing in the red each month and falling to ₹ 65 per share.
However, the stock picked up momentum in May, surging 36%, its first monthly gain since listing. The rally has continued into the current month as well, with the stock gaining another 18% so far. Despite this recovery, the stock is still trading around 30% below its IPO price.
The company is one of India's largest multi-modal, rail-focused, 4PL asset-light logistics providers, offering customized end-to-end 3PL and 4PL logistics solutions. It integrates road, rail, water, and air transport, along with value-added services across the supply chain.
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