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BW Businessworld

Gati Shares Rally After Investor Damani Buys Stake

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Shares in Gati rose as much as 12.5 per cent to their highest since February 2012 after a fund run by independent investor Radhakishan Damani bought 4 million shares, or 4.6 per cent of the total equity in the logistics provider, according to NSE and BSE exchange data.

Derive Investments, an investment company run by Damani who is known in India for his stock picks, bought shares through a series of bulk deals on 30 December, according to the data.

At 12:37 p.m., shares in Gati were up 5.3 per cent at Rs 46.35.

(Reuters)


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