Aegis Logistics, a leader in oil, gas and chemical logistics, witnessed a rise in share price on Monday after the company announced the allotment of 3 acres of land at Mangalore Port to build a storage terminal. The land is allotted on a lease for a period of 30 years by New Mangalore Port Trust.

New Mangalore port ranks 3rd, in terms of POL traffic handled among Major Ports of India. In FY15 New Mangalore port catered 12% of POL traffic handled by Major Ports.

With this land allocation, Aegis Logistics will expand its presence to Six Ports of India - Mumbai, Pipavav, Kandla, Kochi, Haldia, and New Mangalore. These ports together manage 70% of POL Traffic handled by the Major Ports in India. 

Shares of Aegis Logistics are trading at Rs 90.70, up Rs 3.25, or 3.72% at the Bombay Stock Exchange (BSE) on Monday at 11:49 a.m.

The scrip has touched an intra-day high of Rs 92.40 and low of Rs 86.70. The total volume of shares traded at the BSE is 90,388.