BlackBuck Shares Slide 5% During Intraday

Shares of BlackBuck’s parent Zinka Logistics Solutions Ltd fell almost 5% to INR 441.35 apiece during the intraday trading session on the BSE today (February 17).

However, the shares reversed some losses to trade about 4.3% lower at INR 444.75 per share, as of 12:25 PM, on the BSE, compared to its last close of INR 464.55 apiece, as of Friday (February 14).

The market capitalisation of the company currently stands at INR 7,848.89 Cr. The stock has ended the last three sessions in red, and is set for its fourth consecutive session below the line, if current loss holds.

It is observed that the broader market has opened weaker today, with the Indian benchmark indices including the BSE Sensex trading down by 0.32% at 75,696.56, while the Nifty50 fell 0.28% to 22,865.10, as of 12:56 PM.

Founded in 2015 by IIT Kharagpur alumni Rajesh Yabaji and Chanakya Hridaya, along with Rama Subramaniam, BlackBuck is a B2B marketplace for inter-city full truckload (FTL) transportation. It connects truck operators with businesses with shipping requirements in real time through its tech-enabled platform.

While BlackBuck started its journey as a truck aggregator, it has since shifted its focus to selling value-added services such as FASTag, fuel cards, vehicle tracking software, subscriptions and loans.

The company made its market debut on November 22, last year. Shares of the Flipkart-backed company were listed at INR 280.90 on the NSE, a modest premium of 2.89% over the IPO issue price of INR 273, while on the BSE, the stock debuted at INR 279.05, a premium of 2.21%.

Since its day of public listing, the stock has gained 78.5% in value.

On the financial side, the logistics major saw its consolidated net loss zoom 145% to INR 48.03 Cr in Q3 FY25 from INR 19.57 Cr in the year-ago quarter. However, its revenue from operations surged 41% to INR 113.98 Cr in Q3 FY25 from INR 80.86 Cr in the corresponding quarter last year.