Shares of the Hyderabad-based logistics firm Gati Ltd have surged as high as 36% in the last two days ahead of the board meeting scheduled on 26 April 2018 to consider a fresh strategic partnership.
Shares of the Hyderabad-based logistics firm Gati Ltd have surged as high as 36% in the last two days ahead of the board meeting scheduled on 26 April 2018 to consider a fresh strategic partnership. “A meeting of the board of directors of the company will be held on Thursday, 26 April 2018 inter-alia to review, consider and pass the enabling resolution for exploring the possibility of inducting a new financial/strategic partner to augment the future growth of the company,” Gati Ltd said in an exchange filing on Tuesday.
The stock of Gati Ltd had risen 35.88% to Rs 136.7 on BSE while the stock has advanced 35.79% to Rs 136.6 on NSE. Shares of Gati Ltd were the top gainers among the 300 plus components of ‘A’ group shares on BSE on Tuesday and was among the top 5 gainers on Wednesday also. Following a steep surge in the share prices of Gati Ltd, a massive addition has seen in the market capitalisation of Gati Ltd. At the day’s high share price of Rs 136.7 on BSE, Gati Ltd commands a market capitalisation of Rs 1,476.85 crore. In the last two days, Gati Ltd has added about Rs 390 crore in the market capitalisation.
Shares of Gati Ltd made a 52-week high of Rs 154.45 on 17 January 2018 and a 52-week low of Rs 84.35 on 28 March 2018 on National Stock Exchange. Shares of Gati Ltd are categorised in the ‘A’ group of BSE and is an active component of Nifty Infrastructure and S&P BSE 500 index.
“The trading window for dealing in the securities of the Company will remain closed from the start of business hours of Tuesday, 24 April 2018 and the trading window will be open after 48 hours of the conclusion of the meeting,’ Gati Ltd said.