The board of the multinational courier delivery services company approved the appointment of Rohan Mittal as a chief financial officer (CFO) and key managerial personnel of the company with effect from Friday, 9 October 2020.
In addition to the chief financial officer position, Mittal will continue to be the chief transformation officer of Gati.
Peter H Jayakumar on 9 October 2020 stepped down as the chief financial officer and the key managerial personnel on account of his superannuation after long standing service of over 23 years in the company. The announcement was made after market hours on Friday, 9 October 2020.
Gati and its subsidiaries are engaged primarily in the business of running express distribution, supply chain services, e-commerce logistics, integrated freight forwarding, warehousing and running fuel stations.
On Friday, shares of Gati rose 0.28% to Rs 53.45. The stock has surged 64.96% from its 52-week low of Rs 32.40 hit on 29 April 2020.
On the technical front, the stock's RSI (relative strength index) stood at 55.601 on Friday. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading above its 50-day moving average (DMA) placed at 47.30 and its 200-day moving average (DMA) placed at 50.75.
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