Gati shares rally after investor Damani buys stake

Reuters Market Eye - Shares in Gati rose as much as 12.5 percent to their highest since February 2012 after a fund run by independent investor Radhakishan Damani bought 4 million shares, or 4.6 percent of the total equity in the logistics provider, according to NSE and BSE exchange data.

Derive Investments, an investment company run by Damani who is known in India for his stock picks, bought shares through a series of bulk deals on Monday, according to the data.

At 12:37 p.m., shares in Gati were up 5.3 percent at 46.35 rupees.

(Reporting Indulal P)