Gateway Distriparks gains as subsidiary to set up 4th Inland Container Depot in Gujarat

Gateway Distriparks rose 0.69% to Rs 333.70 at 12:00 IST on BSE after the company said its subsidiary is setting up its fourth Inland Container Depot at Viramgam near Ahmedabad in Gujarat.

The announcement was made during trading hours today, 13 July 2015.

Meanwhile, the BSE Sensex was down 20.35 points, or 0.07%, to 27,641.05.

On BSE, so far 4,703 shares were traded in the counter, compared with an average volume of 32,866 shares in the past one quarter.

Trading in the stock was volatile. The stock rose 1.60% at the day's high of Rs 336.70 so far during the day. The stock rose 0.18% at the day's low of Rs 332 so far during the day.

The stock hit a record high of Rs 459.40 on 20 January 2015. The stock hit a 52-week low of Rs 221.60 on 14 July 2014.

The stock had underperformed the market over the past one month till 10 July 2015, sliding 7.53% compared with 3.06% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 10.70% as against Sensex's 4.22% fall.

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

Gateway Distriparks announced that its subsidiary, Gateway Rail Freight (GRFL), is setting up its fourth Inland Container Depot (ICD) at Viramgam near Ahmedabad in Gujarat.

This will be a terminal on the confluence point of the two double stack routes between Garhi Harsaru in Gurgaon (Haryana) and two main ports on the west coast at Mundra and Pipavav in Gujarat.

The terminal with the railway siding and container yard will be constructed over 35 acres of land acquired and is expected to be operational within a year.

All the necessary regulatory approvals from Western Railway for this purpose are in place, the company said.

On a consolidated basis, Gateway Distriparks' net profit rose 21.2% to Rs 48.77 crore on 0.8% decline in net sales to Rs 263.53 crore in Q4 March 2015 over Q4 March 2014.

Gateway Distriparks is the only logistics facilitator in India with three verticals which are synergetic and capable of being interlinked - 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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