Gati drops after fund selling

Gati lost 3.96% to Rs 127.30 at 14:11 IST on BSE after a fund sold shares of the company in a bulk deal on NSE yesterday, 21 November 2017.

Meanwhile, the S&P BSE Sensex was up 121.10 points, or 0.36% to 33,599.45. The S&P BSE Small-Cap index was up 50.47 points, or 0.28% to 17,863.54.

On the BSE, 10.71 lakh shares were traded in the counter so far, compared with average daily volumes of 2.01 lakh shares in the past one quarter. The stock hit a high of Rs 133.50 and a low of Rs 124.55 so far during the day. The stock hit a 52-week high of Rs 148.50 yesterday, 21 November 2017. The stock hit a 52-week low of Rs 101.60 on 11 August 2017.

The stock had outperformed the market over the past 30 days till 21 November 2017, rising 14.32% compared with 2.99% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 16.37% as against Sensex's 6.05% rise. The scrip, however, underperformed the market in past one year, advancing 14.32% as against Sensex's 28.96% rise.

The small-cap company has equity capital of Rs 21.65 crore. Face value per share is Rs 2.

Green India Venture Fund sold 9.50 lakh shares of Gati at an average price of Rs 134.19 per share in a bulk deal on NSE yesterday, 21 November 2017. The stock dropped 5.76% to settle at Rs 132.55 yesterday, 21 November 2017.

On a consolidated basis, Gati's net profit jumped 179.17% to Rs 20.77 crore on 4.62% decline in net sales to Rs 405.97 crore in Q2 September 2017 over Q2 September 2016. The result was announced after market hours on Thursday, 16 November 2017. Shares of Gati jumped 9.83% to settle at Rs 131.25 on Friday, 17 November 2017. The stock surged 7.16% to settle at Rs 140.65 on Monday, 20 November 2017.

Gati provides express distribution and supply chain solutions, with a strong presence in Asia Pacific region and SAARC countries, along with an extensive network across India.

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