New Delhi, March 28 -- Shares of penny stock North Eastern Carrying Corporation (NECC) surged over 15 percent in intra-day trade on Friday, March 28, after the company announced a significant logistics contract with Tata Steel Limited (TSL). The deal involves the transportation of steel products such as coils, sheets, and tubes from Tata Steel's Sahibabad facility to various destinations using electric heavy vehicles (EVs).

The contract is valid for five years, with an option for a one-year extension upon mutual agreement. This marks NECC's first large-scale EV logistics contract, highlighting its commitment to exploring greener transportation solutions.

In an exchange filing, NECC stated, "Pursuant to Regulation 30 of SEBI (Listing Obl...