Tara Chand Bags ₹81.51 Cr SAIL Contract, Expands East! 🚀
Big news from the logistics sector! Tara Chand InfraLogistic Solutions (TARACHAND) has just announced a significant new contract that’s set to boost its presence in a key region. While shares of TARACHAND closed down 4.4% at ₹78.5 today, the underlying business development is certainly worth a closer look.
The company has bagged a substantial contract from none other than the Steel Authority of India Ltd (SAIL). This isn’t just any contract; it’s for appointing Tara Chand as the Consignment and Handling Agent at SAIL’s largest warehouse by volume, located in Dankuni, West Bengal. This is a strategic move, as it marks Tara Chand’s official entry into the Eastern India market for its warehousing and transportation services. Talk about expanding horizons! 🗺️
So, what are the details? This domestic contract, which is essentially a Letter of Intent (LOI) for a Consignment Handling Agency (CHA) role, is valued at a whopping ₹81.51 Crores, inclusive of taxes. The execution period for this major undertaking is set for 4.5 years, kicking off from the third quarter of the financial year 2025-26. The scope involves deploying advanced machinery and skilled manpower to efficiently handle SAIL’s steel products.
It’s also worth noting that this is a straightforward business deal: neither the company’s promoters nor their group companies have any interest in SAIL, and the contract does not fall under related party transactions. This ensures a clean, arm’s length agreement.
This new order from a public sector giant like SAIL is a testament to Tara Chand’s growing capabilities and its ambition to strengthen its footprint across India’s diverse logistics landscape. It’s an exciting development that could pave the way for more opportunities in the region! ✨
source: Corporate Announcement
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