Gati surged 5.14% to Rs 65.50 at 09:43 IST on BSE, after a fund run by an independent investor hiked its stake in the firm on Monday, 13 January 2014.
Meanwhile, the BSE Sensex was down 31.55 points, or 0.15%, to 21,102.66
On BSE, so far 9.91 lakh shares were traded as against an average volume of 4.2 lakh shares in the past one quarter.
The stock hit a 52-week high of Rs 68.50 in intraday trade today, 14 January 2014. The stock hit a low of Rs 63.25 so far during the day. The stock hit a 52-week low of Rs 22.65 on 2 August 2013.
The stock had outperformed the market over the past one month till 13 January 2014, rising 132.9% compared with the Sensex's 2.02% rise. The scrip also outperformed the market in past one quarter, gaining 153.77% as against Sensex's 2.95% rise.
The small-cap the logistics provider has an equity capital of Rs 17.32 crore. Face value per share is Rs 2.
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Investments Derive bought 4.68 lakh shares or 0.54% stake in Gati at Rs 61.22 per share in a bulk deal on the NSE on Monday, 13 January 2014.
Shares of Gati were on a roll recently, with gains catching momentum after a fund run by independent investor Radhakishan Damani bought 40.18 lakh shares or 4.64% stake in the company on 30 December 2013, through bulk deals on BSE and NSE. Derive Investments, an investment company run by Radhakishan Damani who is known in India for his stock picks, bought 7.38 lakh equity shares in a single block deal on BSE at Rs 42.23 per share on 30 December 2013. In the first deal, Derive Investments acquired 6.50 lakh shares at Rs 44 each on NSE on 30 December 2013. Investments Derive bought 26.29 lakh shares at Rs 41.76 each in the second deal on BSE on 30 December 2013.
Shares of Gati hit an upper circuit limit of 20% at Rs 43.95 on 30 December 2013. Thereafter, shares surged 41.75% to settle at Rs 62.30 on 13 January 2014, with the stock logging gains in seven of ten trading days.
On a consolidated basis, Gati reported a net profit of Rs 4.60 crore in Q1 September 2013 compared with a net loss of Rs 7.79 crore in Q1 September 2012. Net sales rose 20.9% to Rs 360.18 crore in Q1 September 2013 over Q1 September 2012.
Gati is one of the leading logistics companies in India. It offers an integrated Express Distribution and customized Supply Chain Solutions to customers across diverse industry verticals. A market leader in India, Gati has a strong market presence in the Asia Pacific region and SAARC countries. Gati has offices in China, Singapore, Hong Kong, Thailand, Nepal and has plans to foray into other markets.
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