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GATI stock rallies 16%; to explore inducting a strategic partner

The company said it is exploring the possibility of inducting a new financial/strategic partner.

Shares of GATI rallied 16% after the company said it is exploring the possibility of inducting a new financial/strategic partner.

“The board of directors of the company will meet on April 26 to review, consider and pass the enabling resolution for exploring the possibility of inducting a new financial/strategic partner to augment the future growth of the company,” the company said in the filing.

GATI is a logistics service provider in India with a network of 4,000+ business partners and a fleet of 5,000 vehicles. The company also has a warehouse space of more than 3 million square feet across the country. Its operations are divided into the following business segments – express distribution, e-commerce logistics & fulfilment services, supply chain management solutions and Gati Kausar.

The stock is currently trading at Rs116.65 up by Rs16.05 or 15.95% from its previous closing of Rs100.60 on the BSE. The scrip opened at Rs101 and has touched a high and low of Rs118.65 and Rs101 respectively.
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