Shares of Gati is locked in upper circuit of 10% at Rs 62.30, extending its past two week rally on the BSE, after ace investor Radhakishan Damani has acquired over 5% stake in the logistics company through open market.
The stock has rallied 70% from Rs 36.65 on December 27 compared to nearly 1% decline in benchmark S&P BSE Sensex.
On December 30 2013, M/s Derive Investments a fund run by independent investor Radhakishan Damani and Gopikishan Damani, bought 4.44 million shares, or 5.13% of the total equity of the company via open market purchase, Gati said in a regulatory filing.
Post acquisition, total holding of M/s Derive Investments has increased to 6.97% from 1.84% earlier, it added.
Meanwhile, till 1020 hours, a combined 2.15 million shares have changed hands on the counter and there are pending buy orders for 876,734 shares on the BSE and NSE.
The stock has rallied 70% from Rs 36.65 on December 27 compared to nearly 1% decline in benchmark S&P BSE Sensex.
On December 30 2013, M/s Derive Investments a fund run by independent investor Radhakishan Damani and Gopikishan Damani, bought 4.44 million shares, or 5.13% of the total equity of the company via open market purchase, Gati said in a regulatory filing.
Post acquisition, total holding of M/s Derive Investments has increased to 6.97% from 1.84% earlier, it added.
Meanwhile, till 1020 hours, a combined 2.15 million shares have changed hands on the counter and there are pending buy orders for 876,734 shares on the BSE and NSE.
