Gateway Distriparks surges 29% in 3 days on stake sale in Snowman Logistics

On Friday, GDL entered into a share purchase agreement to sell its entire stake of 40.25 per cent in Snowman Logistics to Adani Logistics for Rs 295.92 crore.

Shares of Gateway Distriparks (GDL) were up 12 per cent to Rs 123 on the BSE on Monday. The stock has rallied 29 per cent in the past three trading days after the company announced plan to sell entire stake sale in Snowman Logistics to Adani Logistics for around Rs 296 crore.

The trading volumes on the counter jumped more than eight-fold today. A combined 1.23 million equity shares changed hands on the NSE and BSE till 10:26 am. In comparison, the S&P BSE Sensex was up 0.28 per cent at 41,690 points.

On Friday, December 27, GDL