Investors' thumbs up for acquisition by Gati

DALAL STREET SPIKES

Gati rose 3.2 per cent to Rs 100.30 on reports that it would acquire a 52.96 per cent stake of Kausar India at Rs 72.84 per share. Delhi-based Kausar India provides refrigerated transportation of perishable goods and frozen foods.

It is listed on the DSE but has not witnessed any trading activity in the past few months. At present, Gati does not have any presence in the movement of perishable cargo, and this acquisition will mark Gati's entry into the cold chain space.