Small-cap stock under ₹50: Quant Mutual Fund-owned stock announces this overseas business update; check price trend

Small-cap stock under ₹50: Lancer Container Lines, a small-cap shipping andlogistics solution provider in India, announced on Monday, September 2, that it had entered an agreement with PT Map Trans Logistic, an Indonesian company, to lease 10,000 TEUs (twenty-foot equivalent units).

"Lancer Container Lines, one of the leading integrated shipping andlogistics solution providers in India, has entered an agreement with a prominent Indonesian company, P.T. Map Trans Logistic, Surabaya, to lease 10,000 TEUs (twenty-foot containers and forty-foot containers)," the company said in a media statement.

The market, however, looked unimpressed with the announcement as the Quant Mutual Fund-owned stock fell over 2 per cent in intraday trade. Around 11:35 am, the stock traded 1.77 per cent lower at ₹47.80 apiece. Equity benchmark Sensex was 0.32 per cent up at 82,633 at that time.

The management at Lancer Containers Lines believes this strategic partnership will increase the company's leasing activities, helping it to expand its business and enhance shareholder value.

According to the media statement, the company aims to expand its TEU capacity to 45,000 by FY26 from nearly 20,000 in FY24 and intends to steadily grow its container inventory by incorporating 200-300 containers each month to meet rising demand.

"The company aims to become a fully integrated service provider and is actively exploring opportunities to purchase a new vessel. The measures are expected to yield healthy revenue and margin growth in the coming years," it said.

Significant stakes of DIIs, FIIs

The names of several prominent domestic institutional investors (DIIs) and foreign institutional investors (FIIs) appear as the shareholders of the company.

According to the latest shareholding pattern data on BSE, Quant Mutual Fund holds 57,80,096 shares of the company, which translates into a nearly 2.43 per cent stake in the firm. Elara Capital Plc holds 1,90,80,000 shares of the company, equivalent to 8.01 per cent stake.

On the other hand, Mauritius-based AG Dynamic Funds holds 57,24,000 shares, or 2.40 per cent, stake in the firm. The US-based Minerva Ventures Fund, holding 62,94,596 shares, has a 2.64 per cent stake in the company.

Lancer Container Lines share price trend

The small-cap stock, with the current market capitalisation of about ₹1,138 crore, has seen a significant loss of over 43 per cent this year so far. It hit its 52-week high of ₹110 on February 5 this year but witnessed heavy profit booking after that, which dragged it to its 52-week low of ₹44.01 on July 18.

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