GDL gains after acquiring land for setting up CFS

Gateway Distriparks rose 4.05% to Rs 369 at 14:02 IST on BSE after the company acquired about 48 acres for setting up a Container Freight Station at the Krishnapatnam Container Port.

The announcement was made during trading hours today, 30 July 2015.

Meanwhile, the BSE Sensex was up 135.78 points, or 0.49%, to 27,699.09

On BSE, so far 30,356 shares were traded in the counter, compared with an average volume of 35,520 shares in the past one quarter.

The stock hit a high of Rs 371.80 and a low of Rs 359.15 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 224.65 on 17 September 2014.

The stock had outperformed the market over the past one month till 29 July 2015, rising 1.65% compared with Sensex's 0.3% decline. The scrip, however, underperformed the market in past one quarter, falling 1.6% as against Sensex's 1.24% gain.

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

Gateway Distriparks (GDL) said that Krishnapatnam is strategically located between Chennai and Vizag Ports and is well placed to service importers and exporters in Andhra Pradesh & Telengana.

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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