 "Gati soars as Japanese firm Kintetsu World Express buys 5% stake")
Gati Limited has soared 15% to Rs 93.80 on the NSE after the company said Japanese logistics services firm Kintetsu World Express (KWE) has acquired 5% stake in the company through off-market deal today.
Kintetsu World Express has acquired 4.32 million shares representing 5% of total equity of Gati Limited for approximately Rs 35 crore.
On April 1, 2014, private arrangement involving an off-market deal executed between the promoter group company - Mahendra Investment Advisors Private Limited and Kintetsu World Express Inc, Gati said in a regulatory filing.
As on December 31, 2013, Mahendra Investment Advisors Private Limited held 8.06 million or 9.31% stake in Supply chain solutions provider Gati.
The stock opened at Rs 81 and has seen an over five-fold jump in trading volumes. A combined 13.02 million shares already changed hands on the counter as against an average sub 2 million shares that were traded daily in past two weeks on the NSE and BSE.
Meanwhile, so far in 2014 shares in Gati has outperformed the market by appreciating more than 100% from Rs 46.50 at beginning of this year compared to 6% rise in benchmark CNX Nifty.
Kintetsu World Express has acquired 4.32 million shares representing 5% of total equity of Gati Limited for approximately Rs 35 crore.
On April 1, 2014, private arrangement involving an off-market deal executed between the promoter group company - Mahendra Investment Advisors Private Limited and Kintetsu World Express Inc, Gati said in a regulatory filing.
As on December 31, 2013, Mahendra Investment Advisors Private Limited held 8.06 million or 9.31% stake in Supply chain solutions provider Gati.
The stock opened at Rs 81 and has seen an over five-fold jump in trading volumes. A combined 13.02 million shares already changed hands on the counter as against an average sub 2 million shares that were traded daily in past two weeks on the NSE and BSE.
Meanwhile, so far in 2014 shares in Gati has outperformed the market by appreciating more than 100% from Rs 46.50 at beginning of this year compared to 6% rise in benchmark CNX Nifty.