Gateway Distriparks rose 2.9% to Rs 150.70 at 13:09 IST on BSE after the company said it has acquired 74 lakh equity shares of Rs 10 each in its subsidiary company, Snowman Logistics from Nichirei Logistics Group Inc. for Rs 25.90 crore.
The announcement was made during trading hours today, 12 March 2014.
Meanwhile, the S&P BSE Sensex was up 15.06 points or 0.07% at 21,841.48.
On BSE, so far 19,000 shares were traded in the counter as against average daily volume of 49,651 shares in the past one quarter.
The stock hit a high of Rs 152 and a low of Rs 145.80 so far during the day.. The stock had hit a 52-week high of Rs 154 on 6 January 2014. The stock had hit a 52-week low of Rs 98.10 on 5 August 2013.
The small-cap logistics company has equity capital of Rs 108.61 crore. Face value per share is Rs 10.
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Post purchase of shares in Snowman Logistics (SLL) by the company, SLL will continue to be the subsidiary of Gateway Distriparks. The company's shareholding in SLL will increase to 54.19% and Nichirei Logistics Group Inc. will cease to be a shareholder of SLL, Gateway Distriparks said.
Gateway Distriparks' consolidated net profit rose 13.8% to Rs 31.89 crore on 5.6% growth in net sales to Rs 247.04 crore in Q3 December 2013 over Q3 December 2012.
Gateway Distriparks (GDL) was incorporated in 1994 to conduct the business of General and Bonded Warehousing, handling and clearing of sea borne Exim Cargo in containerised form at Navi Mumbai. Over time, GDL had ventured into other activities in the logistics industry as well. The company operates in three verticals viz. Container Freight Stations (CFS), Inland Container Depots (ICD) with rail movement of containers to major maritime ports, and Cold Chain Storage and Logistics.
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