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Logistics stock in focus as firm acquires controlling stakes in companies for Rs 922 crore, details

Shares of Sindhu Trades, which is primarily engaged in transportation logistics and support services, are on investors' radar today after the company announced it has acquired controlling stakes in Advent Coal Resources Pte Ltd and Sainik Mining and Allied Services Ltd (SMASL) for a total of Rs 922.50 crore. Amid this, the stock opened in the green today at Rs 24.02 on the BSE, up from the previous close of Rs 23.82, a gain of Rs 0.2 or 0.83 per cent. However, the stock witnessed selling pressure as benchmark indices Sensex and Nifty tumbled amid surging crude oil prices, geopolitical uncertainties and a weak trend in Asian markets. Foreign fund outflows also weighed on investor sentiment in early trading. The 30-share BSE Sensex tanked 730 points to 73,170.12 in early trade. The 50-share NSE Nifty dropped 231.50 points to 22,908.95.