India's Allcargo, Gati rise on Gati-Kintetsu Express stake sale

Allcargo Gati

28/03/2023 06:14

** Shares of Allcargo Logistics Ltd and Gati Ltd rise as
much as 4.5% and 3.9% respectively 
    ** Allcargo Logistics on Monday said it entered a share
purchase agreement for acquisition of 30% stake in Gati-Kintetsu
Express (GKEPL), a unit of Gati Ltd, for 4.07 billion
rupees($49.51 million)
    ** Post completion of transaction, ACLL to hold 30% stake
and GATI to continue to hold existing 70% stake in GKEPL, Gati
added in an exchange filing 
    ** Allcargo Logistics  ACLL.NS  up 2.6% and Gati  GATI.NS 
up 2.4% as of 10:06 a.m. IST
    ** Shares of ACLL and GATI down 14% and 30.8% so far this
year, as of last close


($1 = 82.2100 Indian rupees)

 (Reporting by Yagnoseni Das in Bengaluru)
 ((Yagnoseni.Das@thomsonreuters.com; +91 6001289066;))