Shares of Gati, the prominent logistics company, experienced a meteoric rise today, reaching an astounding high of Rs 168 per share on the BSE on October 16. This sudden surge, a staggering 14 percent increase, was fueled by a remarkable 18 percent rise in volumes in the July-September quarter of fiscal year 2023-24 (Q2FY24), as reported in the company’s latest business update. Surpassing market expectations, this surge defied the otherwise stable S&P BSE Sensex, which remained unchanged at 66,205 levels as of 11:15 am.
The day’s trading activity reflected a significant uptick in investor interest. Notably, a total of 3.9 million equity shares changed hands at both the NSE and BSE, a stark contrast to the average of 0.4 million equity shares over the past week, indicating a substantial boost in market participation.
Gati’s impressive performance is further underscored by its outstanding growth over the last six months. The company’s stock has surged by an impressive 42 percent, outpacing the modest 9 percent rise in the Sensex benchmark during the same period. This remarkable feat comes after Gati’s stock had reached its lowest point at Rs 97 apiece on March 27, 2023, only to scale new heights, hitting a 52-week high of Rs 184 apiece on October 27, 2022.
As of 11:51 the shares of the company were trading 10.01% at Rs 162.15
