Logistics stock falls 7% after selling 81% stake in its subsidiary

Synopsis:

Total Transport Systems plunged sharply after it decided to divest 81% of a crucial subsidiary. This unit was responsible for 16% of the company’s revenue.

The shares of this leading logistics stock are in focus after the company sold a stake in one of its key subsidiaries that significantly contributed to its business. In this article, we will dive deeper into the highlights of this transaction and how it can impact its business.

With a market capitalisation of Rs 133 crore, the shares of Total Transport Systems Ltd reached a day’s low of Rs 80.40 per share, down 7 percent from its previous day’s closing price of Rs 86.05 per share. Over the past five years, the stock has delivered a return of 24 percent, underperforming NIFTY 50’s return of 97 percent.

About the Sale

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