Tiger Logistics, a BSE-listed logistics solutions provider, has announced its entry into the renewable energy sector with the launch of its new vertical, TiGreen. Following the announcement, the company’s stock surged nearly 3%, reaching a high of Rs 51 on Thursday, March 6. By 12:20 PM, the stock was trading firmly at Rs 50.39 apiece. 

The company’s shares have been on an upward trend for three consecutive sessions, delivering a 21% return. While the stock is currently trading above its 5-day moving average, it remains below the 20-day, 50-day, 100-day, and 200-day moving averages. 

Tiger Logistics' expansion into renewable energy aligns with the booming solar energy market in India, which has emerged as a global manufacturing and export hub. The company noted a significant rise in its logistics business, driven by increasing demand for solar modules from China, which supplied around 97% of polysilicon and 80% of solar modules globally in FY2024. 

(MSN)