This logistics company aims to deliver 1 mn packages by 2020, shares surge over 9%

So far, around 5.79 lakh shares of Gati Ltd exchanged hands on the BSE as compared with two-week average daily volume of 3.40 lakh shares.

Sensex, Nifty at fresh 52-week highs; 5 stocks to bet on
During the week gone by, Sensex opened higher at 27,827.26 and hovered in a range of 28,581.58 and 27,698.71 before ending at 28,532.11, showing robust gain of 749.86 points, or 2.70 per cent. The broader Nifty also jumped 237.10 points, or 2.77 per cent, to 8,809.65 after moving between a high of 8,824.10 and a low of 8,543.75.

Logistics company Gati shares gained over 9 per cent intraday on Tuesday after the company said it is looking to ink a deal with logistics startups in the delivery space as part of its its vision of delivering 1 million packages everyday by 2020.

At 1.03 pm, shares of the company were trading 3.01 per cent up at Rs 111.30. The scrip opened at Rs 113 and has touched a high and low of Rs 118.40 and Rs 109.60, respectively, in trade so far. Sensex was down 146.14 points at 23,407.98.

So far, around 5.79 lakh shares of Gati Ltd exchanged hands on the BSE as compared with two-week average daily volume of 3.40 lakh shares.

“Gati is exploring the burgeoning start-up environment and looking at strategic investment in start-ups in the logistics sector,” the company’s statement said.

“We are engaging with start-ups that are aligned with our business to make a strategic investment. These alliances and investments will help us build capability and capacity,” Gati’s Chief Strategy Officer Dhruv Agarwal said in a statement.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express Telegram Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.