New Delhi [India], September 28 (ANI/PNN): The NSE listed Accuracy Shipping is one stop solution for all logistics requirements and is likely to be of the key beneficiaries of the policy announced by the government of India.
The Prime Minister of India Narendra Modi has announced the National Logistic Policy on September 17, on his birthday, aimed at easing the movement of goods and boosting the trade sector in the Indian economy.
The policy aims to lower the cost of logistics from the existing 13-14 per cent and lead it to par with other developed countries. This will increase the competitiveness of Indian products in both the Indian home market and the international market.
With a vast experience spanning more than 16 years, Accuracy Shipping is involved in providing third party logistics solutions, with the entire gamut of services under a single umbrella.
It offers customized and end-to-end logistics solutions and services including transportation distribution, freight forwarding, clearing and forwarding services, custom house clearance, warehousing and value added services.
Thanks to its vast, strong and pan India network, the company has been able to provide its customers hassle free services across the nations in all segments, which has coincided with its motto of giving highest quality services to the customers.
This business model, supported by a constant vigil for new opportunities, soon saw ASL grow and evolve into a logistic service partner with all possible logistics solutions under its belt and more importantly who delivered results- On time. Every time.
The company, as the new policy rolls out, has a plethora of opportunities ahead of it. Global and Indian markets have ample opportunities ahead of it, which can fuel its growth in times to come, said the market analysts.
Ravi Singh, Vice President & Head of Research at Share India said that the diversified business model of Accuracy Shipping company has worked well. The company's network reach and specialisation in providing customised solutions has been well positioned among its peers.
"The company has already started focusing on various other industries like paper, textile, glass and more to reduce dependency on the core sectors of marble, granite and ceramic tile," he said.
The current RoE at 16.64 per cent is outperforming its 5-year average of 13.65 percent. Company's annual revenue growth of 119.88 percent outperformed its 3 year CAGR of 33.59 percent.
Decoding the technical charts, Singh from ShareIndi said that the stock is making structurally up trend on weekly charts. The historical price action in the stock reflects the increased market participation which helps stock to maintain its uptrend. Currently, the stock is trading above all its major moving averages on daily charts.
"On technical setup, the 14 period RSI is pointing northward given a positive crossover with the signal line and trading comfortably above the signal line. The parabolic SAR is trading well below the price action which indicates up move in the stock will remain intact in near term. With this momentum, the counter may touch the levels of Rs 320 levels from near term and Rs 360 levels from long term perspective," he added.
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