Gati surges 33% in one week on talks of acquisition by TVS Logistics

Gati informed the stock exchanges that Manoj Gupta, CFO, has resigned from the company due to personal reasons which has been accepted by the Company and he has been relieved with immediate effect.

Shares of logistics company Gati have rallied 10% to Rs 116 per share on the BSE in noon deals, extending its past four days gain, on reports that TVS Logistics is in talks to acquire the company for Rs 15 billion.

In past one week, the stock soared 33% from Rs 87.50 on July 25, 2018, as compared to 1.8% rise in the S&P BSE Sensex.

The counter has seen huge trading volumes with a combined 4.5 million equity shares changed hands on the BSE and NSE till 01:16 pm. On an average sub two million shares were