GATI in the limelight

GATI is the top gainer on the BSE currently, going up 18% to Rs.115, with around 3.5 times jump in volumes. The stock’s 52-week high and low stands at Rs.154.45 and Rs.73.20 respectively.

The stock is up on unconfirmed news that TVS Logistics is in talks with GATI to buy a controlling stake for around Rs.1500 crore.

TVS, in which Canada’s CDPQ owns a significant minority stake, is negotiating to buy the entire promoter holding of around 23%.  

The Board is scheduled to meet on the 13th of August to consider the Q1FY19 numbers.