Navkar Corporation shares hit an intraday high of Rs 87 on Oct 14 after winning a Rs 48 crore cargo terminal order from Southern Railway.

The trigger was a Letter of Acceptance from Southern Railway, which Navkar Corporation Ltd received at around 3 pm on 13 October. It is the railway’s formal yes to the project.

The job is to build and run a Gati Shakti Multi Modal Cargo Terminal. Think of it as a rail-side hub where goods shift between trains and trucks.

Gati Shakti is the government’s programme to link rail, road and port routes for cargo.

It will come up at Kulipalaiyam station on the Uttukuli to Tiruppur section in Tamil Nadu. Everything will sit on railway land, and Navkar will hold it on a 35-year licence.

The contract is worth around Rs 48 crore, though the final figure may shift with the terms of the agreement.

Construction must wrap up within 18 months of approval or land handover, whichever comes later.

The order comes from the Salem Division of Southern Railway. Navkar told exchanges that no promoter or group company has any interest in it. It is not a related party deal.

Navkar is a listed subsidiary of JSW Infrastructure Ltd, which also flagged the development to the exchanges under stock market disclosure rules.

At 13:35 pm, Navkar shares traded at Rs 85.66 on NSE, up by Rs 0.52 or 0.61% from the previous close. Around 3.73 lakh shares had changed hands by then, worth Rs 3.22 crore.

The stock is still down about 33% over the past year, and its 52-week range is Rs 74.05 to Rs 131.36.

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