Gati gallops on plans to induct strategic partner

Gati jumped 16.45% to Rs 117.15 at 11:36 IST on BSE after the company scheduled a board meeting on 26 April 2018 to consider exploring the possibility of inducting a new financial/strategic partner.

The announcement was made after market hours yesterday, 23 April 2018.

Meanwhile, the S&P BSE Sensex was up 139.68 points, or 0.41% to 34,590.45.

On the BSE, 8.57 lakh shares were traded in the counter so far, compared with average daily volumes of 59,000 shares in the past two weeks. The stock hit a high of Rs 118.65 and a low of Rs 101 so far during the day. The stock hit a 52-week high of Rs 154.45 on 17 January 2018. The stock hit a 52-week low of Rs 87.60 on 28 March 2018.

 

The small-cap company has equity capital of Rs 21.69 crore. Face value per share is Rs 2.

Gati said that a meeting of the board of directors of the company will be held on 26 April 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.

On a consolidated basis, Gati's net profit dropped 26.72% to Rs 4.80 crore on 5.39% rise in total income to Rs 450.46 crore in Q3 December 2017 over Q3 December 2016.

Gati provides express distribution and supply chain solutions, with a strong presence in Asia Pacific region and SAARC countries, along with an extensive network across India.

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