GATI spurts after Macquarie Bank acquiries over 1% stake in company

GATI is currently trading at Rs. 102.50, up by 6.45 points or 6.72 % from its previous closing of Rs. 96.05 on the BSE. The scrip opened at Rs. 97.75 and has touched a high and low of Rs. 103.75 and Rs. 97.75 respectively. So far 998629 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 101.00 on 20-May-2014 and a 52 week low of Rs. 22.65 on 02-Aug-2013. Last one week high and low of the scrip stood at Rs. 101.00 and Rs. 81.00 respectively. The current market cap of the company is Rs. 902.31 crore. The promoters holding in the company stood at 38.11 % while Institutions and Non-Institutions held 0.90 % and 60.99 % respectively. Macquarie Bank has acquired over 1% stake in Gati for Rs 10 crore through open market purchase. A unit of Australia’s Macquarie Group has purchased 1.02 million shares representing 1.18% stake of the company at an average price of Rs 97.02 per share in a bulk deal on May 20, 2014. As on March 31, 2014, the promoters holding in the company stood at 38.11% while institutions and non-institutions held 0.90% and 60.99% stake in the company, respectively. 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.