Gati shares erase early gains; end lower on profit-booking

Shares of logistics firm Gati today wiped out all its early gains and ended with loss of 0.15 per cent, dragged down by profit-booking.
The scrip, after surging 9.57 per cent to Rs 118.40 in intra-day, lost ground and finally ended 0.51 per cent lower at Rs 107.50 on BSE.
On NSE, shares of the company were down 0.69 per cent to end at Rs 107.35.
In terms of volume, 7.80 lakh shares of the company changed hands at BSE and over 34 lakh shares were traded at NSE during the day.
The express delivery and supply chain solutions firm is exploring strategies for growth to achieve its vision, it said in a regulatory filing yesterday.

"Gati is exploring the burgeoning start-up environment and looking at strategic investment in start-ups in the logistics sector," it added.

The firm has progressed "considerably" in this direction, Gati said, adding that it will "shortly" announce a strategic investment.
"We are engaging with start-ups that are aligned with our business to make a strategic investment. These alliances and investments will help us build capability and capacity," Gati's Chief Strategy Officer Dhruv Agarwal said in a statement.
This is a strategic step towards realising Gati's long-term vision of handling 1 million packages daily, he added.