BlackBuck Shares Rally Over 9% Intraday To Touch INR 462

Shares of Blackbuck’s parent Zinka Logistics Solutions Ltd soared as much as 9.5% to touch INR 462 during an intraday session on the BSE today (December 18). At this mark, the stock traded close to its upper circuit limit of INR 463.9,

The stock pared some gains to end the day’s trading session 7.58% higher at INR 453.70 on the BSE. 

The company’s market capitalisation stood at INR 8,006.84 at the day’s session end and as many as 13.07 Lakh shares traded during the day. 

Today’s rally in the stock comes despite the company on December 13 reporting a net loss of INR 308.38 Cr in the September quarter of fiscal year 2024-25 (Q2 FY25). This was a 7.8X increase from the INR 39.67 Cr loss it registered in the year-ago quarter. 

The company incurred a share-based payment expense of INR 320.74 Cr for the quarter, which if not applied, would have yielded a net profit of INR 38.92 Cr during the quarter under review. 

Its topline also grew in the period under review, with revenue from operations increasing 56% to INR 98.77 Cr in Q2 FY25 from INR 63.37 Cr in the year-ago quarter. Sequentially, revenue increased by 7% from INR 92.16 Cr.

Not to mention, the stock debuted on Dalal Street on November 22. It was listed at a modest premium of 2.2% at INR 279.05 on the BSE against the  IPO issue price of INR 273.Since its listing on the BSE, the stock has witnessed an upside of 62.58% at today’s closing price. 

Founded in 2015 by Rajesh Yabaji, Chanakya Hridaya and Rama Subramaniam, BlackBuck commenced operations as a truck aggregator. Since then, the company has diversified and now offers a full stack of solutions – from load management and telematics to payments for fuel, FASTag or toll charges, and truck financing.

The company operates a B2B marketplace specialising in intercity full truckload transportation.

At the time of listing, the company claimed to have around 27.5% of the country’s truck operators on its platform. Without giving a number, BlackBuck founder and CMD Rajesh Yabaji said in a post-earnings call that it is adding 0.4% to 0.5% market share every month.

Moreover, investors are also betting on the logistics sector due to increased investments in infrastructure and government initiatives aimed at improving the transportation networks.