Gateway Distriparks gains after twin bulk deals

Gateway Distriparks advanced 5.7% to Rs 337.35 at 14:02 IST on BSE after 3.12% equity changed hands in two bulk deals on the BSE today, 17 December 2014.

A bulk deal of 12.73 lakh shares was executed on the Gateway Distriparks scrip at Rs 334.50 per share at 12:32 IST on BSE today, 17 December 2014. Another bulk deal of 21.68 lakh shares was executed on the scrip at Rs 334.25 per share at 12:33 IST on BSE today, 17 December 2014.

Meanwhile, the S&P BSE Sensex was down 51.80 points or 0.19% at 26,729.64

Bulk deal boosted volume on the scrip. On BSE, so far 40.12 lakh shares were traded in the counter as against average daily volume of 69,087 shares in the past one quarter.

The stock hit a high of Rs 349 and a low of Rs 300.45 so far during the day. The stock had hit a record high of Rs 349.50 on 18 November 2014. The stock had hit a 52-week low of Rs 124 on 31 January 2014.

The stock had outperformed the market over the past one month till 16 December 2014, falling 0.27% compared with the Sensex's 4.51% fall. The stock also outperformed the market in past one quarter, rising 24.23% as against Sensex's 1.09% rise.

The mid-cap logistics company has equity capital of Rs 108.73 crore. Face value per share is Rs 10.

On a consolidated basis, Gateway Distriparks' net profit rose 41.7% to Rs 47.74 crore on 16.1% growth in total income to Rs 295.60 crore in Q2 September 2014 over Q2 September 2013.

Gateway Distriparks (GDL) was incorporated in 1994 to conduct the business of general and bonded warehousing, handling and clearing of sea borne exim cargo in containerised form at Navi Mumbai. Over time, GDL had ventured into other activities in the logistics industry as well. The company operates in three verticals viz. Container Freight Stations (CFS), Inland Container Depots (ICD) with rail movement of containers to major maritime ports, and cold chain storage and logistics.

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