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Gati corrects after rising 34% in three days

Capital Market 

Gati tumbled 6.27% to Rs 90.45 on profit booking after a three-day rally.

Shares of Gati corrected after the counter surged 34% in three trading days to settle at Rs 96.5 on 17 November 2020 from its previous closing low of Rs 72.05 on 12 November 2020.

The counter is up nearly 180% from its 52-week low of Rs 32.4 reported on 29 April 2020. The stock trades near its 52-week high of Rs 98.45 hit on 17 November 2020.

On a consolidated basis, Gati posted a net loss of Rs 10.81 crore in Q2 September 2020 as against a net loss of Rs 10.55 crore posted in Q2 September 2019. Net sales fell 22% year on year to Rs 342.5 crore in Q2 September 2020.

Gati is an Indian multinational courier delivery services company headquartered in Hyderabad, India.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, November 18 2020. 12:06 IST