Shares of Aegis Logistics moved erratically in trading on August 19 even as analysts stayed constructive on the stock following reports linking the company to an acquisition of the UAE-based Tristar Group.

Among the brokerages tracking the stock, JPMorgan has an "overweight" rating on Aegis Logistics with a target price of ₹1,670 per share, which represents an upside of 22% from its previous close, according to a CNBC-TV18 Markets report.

An "overweight" rating indicates that the brokerage expects the stock to outperform the average of the companies it covers.

Aegis Logistics is a Mumbai-headquartered Indian company engaged in oil, gas, and chemicals logistics, and its shares are listed on Indian stock exchanges. The stock drew attention because any reported acquisition involving Tristar Group would connect Aegis more closely to the energy and chemicals logistics segment in which both companies operate, a development that investors often watch for clues on scale, market reach, and operational integration.

Tristar Group is a logistics company based in the United Arab Emirates, serving customers in the energy and chemicals sectors.

The stock's choppy movement on the day came despite the positive analyst view, as investors weighed the reported acquisition news and the potential implications of the deal for Aegis's business profile.