India's Gateway Distriparks hits record high after block deal

VRL Logistics

09/01/2024 07:06

** Shares of logistics service provider Gateway Distriparks
 GATW.NS  rise as much as 4.1% to a record 114.25 rupees; last
up 1.9%
    ** About 1.2 mln shares change hands in a block deal at
110.45 rupees/share
    ** Stock trading above its 50-, 100-, and 200-day moving
averages since Nov 2023
    ** Logs busiest session since late Nov; more than 4.8 mln
shares change hands, 3.4x the 30-day avg 
    ** Thirteen analysts covering the stock on avg have a
"strong buy" rating; median PT is 108 rupees, about 3% lower
than the current price - LSEG data
    ** Stock gained ~53% in 2023, while peers like Container
Corp of India  CCRI.NS  and VRL Logistics  VRLL.NS  added about
16% and 42%, respectively


 (Reporting by Dimpal Gulwani)
 ((dimpal.gulwani@thomsonreuters.com))