Shares of Gati corrected after the counter surged 34% in three trading days to settle at Rs 96.5 on 17 November 2020 from its previous closing low of Rs 72.05 on 12 November 2020.

The counter is up nearly 180% from its 52-week low of Rs 32.4 reported on 29 April 2020. The stock trades near its 52-week high of Rs 98.45 hit on 17 November 2020.

On a consolidated basis, Gati posted a net loss of Rs 10.81 crore in Q2 September 2020 as against a net loss of Rs 10.55 crore posted in Q2 September 2019. Net sales fell 22% year on year to Rs 342.5 crore in Q2 September 2020.

Gati is an Indian multinational courier delivery services company headquartered in Hyderabad, India.

Powered by Capital Market - Live News

The Board of Gati at its meeting held on 04 November 2020 has approved appointment of Shashi Kiran Shetty (DIN: 00012754), Non-Executive Additional Director & Chairman of the Company as the Managing Director of the Company with immediate effect.

Powered by Capital Market - Live News

Net Loss of Gati reported to Rs 11.09 crore in the quarter ended September 2020 as against net loss of Rs 11.10 crore during the previous quarter ended September 2019. Sales declined 22.11% to Rs 342.50 crore in the quarter ended September 2020 as against Rs 439.70 crore during the previous quarter ended September 2019.

Powered by Capital Market - Live News

Gati will hold a meeting of the Board of Directors of the Company on 4 November 2020.

Powered by Capital Market - Live News