Gati to explore inducting new financial,strategic partner; stock surges 16%
The board will meet on April 26, to consider and pass the enabling resolution for exploring the possibility of inducting a new financial/strategic partner to augment the future growth of the company.
 "Logistics sector")
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Gati has moved higher by 16% to Rs 117 on the BSE on back of heavy volumes after the logistics company said it exploring the possibility of inducting a new financial/strategic partner.
“The board of directors of the company will meet on Thursday, April 26, 2018 to review, consider and pass the enabling resolution for exploring the possibility of inducting a new financial/strategic partner to augment the future growth of the company,” Gati said in a regulatory filing.
The trading volumes on the counter surged more than eight times with a combined 4.24 million shares representing 4% of total equity of Gati changed hands on the BSE and NSE till 10:55 am.
Thus far in the calendar year 2018, Gati had underperformed the market by falling 26% as compared to 1.2% rise in the S&P BSE Sensex till Monday.
“The board of directors of the company will meet on Thursday, April 26, 2018 to review, consider and pass the enabling resolution for exploring the possibility of inducting a new financial/strategic partner to augment the future growth of the company,” Gati said in a regulatory filing.
The trading volumes on the counter surged more than eight times with a combined 4.24 million shares representing 4% of total equity of Gati changed hands on the BSE and NSE till 10:55 am.
Thus far in the calendar year 2018, Gati had underperformed the market by falling 26% as compared to 1.2% rise in the S&P BSE Sensex till Monday.