Gati gains on foreign fund buying

Gati jumped 2.86% to Rs 98.80 at 14:55 IST on BSE after Macquarie Bank purchased 1.18% equity stake in the company via open market on NSE on Tuesday, 20 May 2014.

Meanwhile, the BSE Sensex was down 85.01 points, or 0.35%, to 24,291.87.

On BSE, so far 14.25 lakh shares were traded in the counter, compared with an average volume of 8.29 lakh shares in the past one quarter.

The stock hit a high of Rs 103.75 so far during the day, which is also 52-week high for the counter. The stock hit a low of Rs 97 so far during the day. The stock hit a 52-week low of Rs 22.65 on 2 August 2013.

The stock had outperformed the market over the past one month till 20 May 2014, rising 11.95% compared with 7.72% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 61.84% as against Sensex's 18.70% rise.

The small-cap company has an equity capital of Rs 17.45 crore. Face value per share is Rs 2.

Macquarie Bank purchased 10.25 lakh shares of Gati at an average price of Rs 97.02 per share in a block deal on Tuesday, 20 May 2014, NSE data showed.

Gati's consolidated net profit surged 83% to Rs 13.80 crore on 20% increase in turnover to Rs 386.50 crore in Q3 March 2014 over Q3 March 2013.

Gati, a pioneer and leader in express distribution and supply chain solutions in India, delivers 5.2 million packages per month. Having started as a cargo management company in 1989, Gati has grown into an organization with more than 4,000 business partners and a network reach of 653 out of total 657districts in India. Gati has over 4500 vehicles on the road excluding their fleet of refrigerated vehicles, container shipping vessels and world class warehousing facilities across India. Furthermore, Gati has a strong market presence in the Asia Pacific region and SAARC countries. Gati has offices in India, Singapore, Hong Kong, China, Nepal and Thailand.

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