India's Allcargo rises on SEBI nod to Gati open offer

Allcargo Gati

05/03/2020 05:01

** Shares of logistics company  ACLL.NS  rise as much as
3.7% to hit a two week intra-day high at 114.75 rupees
    ** India's markets regulator allows company's open offer to
acquire a 26% stake in Gati Ltd  GATI.NS  at 75 rupees per share
    ** ACLL's stake in Gati will rise to 46.83%, if open offer
accepted fully  urn:newsml:reuters.com:*:nFWN2AX05K
    ** Gati shares up 1.5% at 67.55 rupees
    ** Two Allcargo directors also appointed to Gati's board 
    ** ACLL has gained 13.55% and GATI 15.04% this year, as of
last close 

 (Reporting by Philip George in Bengaluru)
 ((P.George@thomsonreuters.com; +91 8061822657; Reuters
Messaging: p.george@thomsonreuters.net))