A company which demerged from Transport Corporation of India and got listed in December 2016, TCI Express provides surface, domestic and international air, priority, e-commerce and reverse expresses. Its TTM revenue and PAT posted a growth of 3.5% and 8%, respectively, as per FY17 results. Recently, the company has planned to invest Rs 400 crore of capex for expansion over five years and for rejuvenation of its existing 28 sorting centres. With this, the company sees its revenue scaling up to nearly Rs 4,000 crore over FY17-22. The growth in SMEs and the shifted focus from B2C to B2B in logistics would help the company grow its topl ine in the near future.
The stock, after registering a high of Rs 667 in the month of July 2017, entered into a corrective phase and made a low of Rs 459. At present, the stock witnessed a breakout of downward sloping trend line o n the daily timeframe. This breakout resulted in a strong up move in the stock price, along with above average volumes. The average 21-day volume stands around 36,000 shares; but the breakout was seen with over 3.90 lakh shares , which suggests strong participation. Among oscillators, the daily 14-period RSI is in rising trajectory and is trading in bullish zone.