Gateway Distriparks hits an all-time high today; here’s why

Gateway Distriparks Ltd, which is in the business of logistics hits an all-time high today at Rs 102.05. In the last trading session, the stock closed at Rs 90.81. Today, it opened at Rs 92.63 and closed at Rs 96.95, up by a 6.76% increase. The stock hit a time high at Rs 120.05 while its 52-week low stands at Rs 58.50. The company currently boasts a market capitalization of approximately Rs 4,850 crore. Over the past six months shares of the company have given a steller return of 52.85%, in the same time frame BSE Services has given a return of 17.03%.

Today’s surge came after the company acquired additional additional 4,36,000 or 0.26% equity shares of Snowman Logistics through the open market with this company’s shareholding in Snowman Logistics increased to 43.26% from 43%.

Snowman Logistics Ltd is a listed company at NSE and BSE. It is engaged in the business of temperature-controlled logistics including, but not limited to storage, transportation by road and distribution of products requiring a temperature-controlled environment. It has a market capitalization of Rs 920 crore. Today, shares of Snowman Logistics also saw a surge in share price closed at Rs 55.06, up by 8.30%.

Gateway Distripacks is an integrated inter-modal logistics service provider. It has a network of 9 Inland Container Depots and Container Freight Stations strategically located across the country, operating a fleet of 31 trainsets along with 500+ trailers for transportation between its facilities and maritime ports, as well as first & last mile connectivity to provide end to end solutions to the EXIM industry. The promoters holding in the company stood at 32.32%, while Institutions and Non-Institutions held 54.65% and 13.03%, respectively.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.