Friday 2 August 2013

Gati surges as its arm Builds 110 megawatt Hydro-electric Power project in Sikkim

GATI is currently trading at Rs. 23.45, up by 0.50 points or 2.18% from its previous closing of Rs. 22.95 on the BSE.

The scrip opened at Rs. 23.70 and has touched a high and low of Rs. 24.00 and Rs. 23.00 respectively. So far 17963 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 45.90 on 09-Oct-2012 and a 52 week low of Rs. 22.70 on 01-Aug-2013.

Last one week high and low of the scrip stood at Rs. 25.00 and Rs. 22.70 respectively. The current market cap of the company is Rs. 202.60 crore.

The promoters holding in the company stood at 43.86% while Institutions and Non-Institutions held 1.64% and 54.50% respectively.

Gati Infrastructure - an energy initiative of Gati, India's pioneer and leader in Express Distribution and Supply Chain Solution is helping to alleviate India's enormous electricity shortage with its first and largest hydro-power project in the private sector, in the north east part of India.

GE Energy Financial Services India has invested Rs 257 crore in the hydro-power project through a share subscription agreement. The 110 megawatt Chuzachen hydro-electric project in East Sikkim harnesses the water flow from the rivers Rangpo and Rongli, in a run-of-river design, with turbines and generators supplied by Alstom India. The project built at a cost of Rs 1188 crore is the first one of this magnitude, under Private Ownership, in the north east of India. IDFC is the lead financier, with a loan at the project level. Capital Fortunes - Hyderabad are the advisors and sole arrangers in respect of this transaction. Commissioned in May of this year the project is operating at steady state.

Gati is a leading player in express distribution and logistics and operates through two divisions - Express Distribution & Supply Chain (EDSC) and Coast- to-Coast (C2C) division. It also operates two container yards at Chennai and Port Blair which increases capability and provides for efficient handling of the cargo.

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