MFL India announced that the company has received a contract Letter of Intent (LOl) from Hero Motocorp for induction of 50 nos carriers for two wheelers.

The company has acquired 14 nos trucks in the First Phase by availing finance from Hinduja Leyland Finance. These carriers are under Fabrication & expected to roll out by the last week of January 2015. The company would be acquiring the balance 36 vehicles shortly to complete the Induction by March 2015.

The company engaged in the business of providing logistic solutions and services pan India. The clients of the company include among others, Hindustan Zinc,Ultra Tech Cement and Gateway Distriparks.

Shares of MFL India gained Rs 0.32, or 4.9%, to settle at Rs 6.85. The total volume of shares traded was 4,487 at the BSE (Thursday).