Gati hits 52-week high on twin bulk deals

Gati was locked at 10% upper circuit at Rs 62.30 at 12:01 IST on BSE, after two bulk deals were executed on the counter today, 13 January 2014.

A bulk deal of 1.22 lakh shares was struck on the Gati scrip at Rs 62.30 per share at 09:20 IST on BSE today, 13 January 2014. Another bulk deal of 1 lakh shares was struck on the scrip at Rs 62.30 per share at 09:52 IST on BSE today, 13 January 2014. These two bulk deals saw 0.25% equity of Gati changing hands.

Meanwhile, the BSE Sensex was up 265.59 points, or 1.28%, to 21,024.08

On BSE, so far 7.23 lakh shares were traded in the counter with pending buy orders of 3.51 lakh shares at upper circuit. The stock has an average volume of 4.11 lakh shares in the past one quarter.

The stock hit a 52-week high of Rs 62.30 in intraday trade today, 13 January 2014. The stock hit a low of Rs 58 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 10 January 2014, gaining 103.78% compared with the Sensex's 2.34% fall. The scrip also outperformed the market in past one quarter, surging 130.28% as against Sensex's 2.4% rise.

The small-cap the logistics provider has an equity capital of Rs 17.32 crore. Face value per share is Rs 2.

Shares of Gati were on a roll recently, with gains catching momentum after a fund run by independent investor Radhakishan Damani bought 40.18 lakh shares or 4.64% stake in the company on 30 December 2013, through bulk deals on BSE and NSE. Derive Investments, an investment company run by Radhakishan Damani who is known in India for his stock picks, bought 7.38 lakh equity shares in a single block deal on BSE at Rs 42.23 per share. Derive Investments struck two bulk deals on NSE. In the first deal, it acquired 6.50 lakh shares at Rs 44 each. It bought 26.29 lakh shares at Rs 41.76 each in the second deal.

Shares of Gati hit an upper circuit limit of 20% at Rs 43.95 on 30 December 2013. Thereafter, shares surged 28.89% to settle at Rs 56.65 on 10 January 2014, with the stock logging gains in six of nine trading days.

On a consolidated basis, Gati reported a net profit of Rs 4.60 crore in Q1 September 2013 compared with a net loss of Rs 7.79 crore in Q1 September 2012. Net sales rose 20.9% to Rs 360.18 crore in Q1 September 2013 over Q1 September 2012.

Gati is one of the leading logistics companies in India. It offers an integrated Express Distribution and customized Supply Chain Solutions to customers across diverse industry verticals. A market leader in India, Gati has a strong market presence in the Asia Pacific region and SAARC countries. Gati has offices in China, Singapore, Hong Kong, Thailand, Nepal and has plans to foray into other markets.

Powered by Capital Market - Live News