Shares of Allcargo Logistics were trading 8.27 per cent higher at Rs 308.45 on BSE. Allcargo Gati, on the other, were trading 7.27 per cent higher at Rs 148.25. Allcargo Logistics own 50.2 per cent stake in Allcargo Gati.
Gati stock closed 3.12% higher at Rs 137.05 on BSE. Market cap of Gati stood at Rs 1,784 creore.
Indian equity benchmarks were trading on a flat note in early deals today. The 30-share BSE Sensex fell 22 points to 66,260 and Nifty stood flat at 19,751.Here's a look at stocks that are buzzing in action today.
Buzzing stocks today: Benchmark indices Nifty50, Sensex were trading higher in afternoon deals today. Reliance Industries, HDFC Life, Tata Steel, Bajaj Auto, Bharti Airtel were the top Nifty gainers, while Titan Company, HCL Tech, PowerGrid, Bajaj Finance and BPCL were the laggards. Check buzzing stocks in trade today.
Gati said its total volume, including surface and air express, for the month of June came in at 102kt, recording an increase of 14 per cent over June 2022. The company had reported a YoY volume growth of 3 per cent in May.
Buzzing stocks today: Sensex and Nifty50 are off the day's high. Sensex was down 100 odd points. NTPC, JSW Steel, Powergrid, ONGC, Hero MotoCorp are the top Nifty gainers, while BPCL, Eicher Motors, Kotak Bank, Apollo Hospitals and Sun Pharma are the laggards.
PNC Infratech, Finolex Cables, APL Apollo, Hi-tech Pipes, Gati, Mahindra Logistics and Macrotech Developers are among Sharekhan’s midcap and smallcap picks.
Gati will sell its approximately 70 per cent stake in Gati Kausar India to existing minority shareholder Mandala Capital AG Limited, a leading private equity firm focused on investments across the food value chain
The company informed that there was an exceptional loss of Rs 172.8 crore on a reduction in the value of assets held for sale
Allcargo Logistics share price rose 3.35% to Rs 114.10 compared to the previous close of Rs 110.40 on BSE
An E-Connect analyst said the company's logistics business will help improve topline because of diversification into e-commerce.