Allcargo Terminals News Today : Breaking News, Live Updates & Top Stories | Vimarsana

MFs liquidated their positions in Media & Entertainment, Plastic Products, Chemicals & Fertilisers, FMCG, Diamond & Jewellery, Aviation and Textile.

Despite selling by mutual funds and foreign investors, Allcargo Terminals, PC Jeweller, and MSTC saw significant returns in the last quarter. Allcargo Terminals' stock hit a lifetime high with 102% returns and a decrease in mutual fund holding from 1.30% to 0.55% and FII holding from 8.22% to 7.61%. PC Jeweller gave 123% returns with MFs exiting the company and FIIs reducing their holding.

Allcargo Logistics is planning to cut costs by USD 30 mn by the end of 2023-24 due to the ongoing slowdown in the global logistics sector. The company also aims to raise up to INR 300 cr in equity funds for Gati, its express logistics business. Company's chairman Shetty said the cost cutting would include a rationalisation of the workforce and a freeze on hiring.

The Nifty Pharma index closed 0.17 per cent down at 16831.8.

BPCL, ONGC, SBI, Coal India Ltd and Infosys were among the top losers on NSE in today's trade.