Gati Share Price Soars by 8.52% on BSE, Company Reports Strong May Business Volume
Gati, a leading logistics solutions provider, saw a significant jump in its share price on June 8, rising by 8.52% to reach Rs. 126.70 on the BSE. This was after the company announced its May business volume figures in an exchange filing on June 7. While the stock price saw some softening due to profit booking, it still remains in a strong position. Currently, the share is trading at Rs. 122.80 on the BSE with a 5.18% increase. Gati’s one-year high is Rs. 195.25, which it achieved on September 14, 2022.
Business Volume Update
In May, the company’s total volume for ground and air express delivery was 98 kilo tonnes, which is 8% higher than the April figures. However, it was only 1% higher on an annual basis. The company witnessed good momentum towards the end of May due to the festive season, and it is expected to continue in the coming months. According to the exchange filing, Gati has started a new superhub in Bhivandi, which is showing positive trends.
About Gati
Gati provides express distribution and supply chain solutions through road, air, and rail. It also offers services in supply chain management, e-commerce logistics, freight forwarding, and cold chain transportation. Gati is a subsidiary of the Allcargo Group, which acquired it in 2020.
Ownership Details
Hyderabad-based courier delivery service firm, Gati, has a 50.20% stake in Allcargo Logistics. There were reports that Gati was in talks with Delhivery to acquire a stake, but the latter denied any such discussions in an exchange filing.
Conclusion
Gati’s strong May business volume figures and the opening of a new superhub in Bhivandi have contributed to the stock price rise on the BSE. The company’s focus on providing innovative logistics solutions and expanding its reach in the market makes it a promising player in the logistics sector.
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