Gateway Distriparks surges on commencing construction of Logistics Park in Andhra Pradesh

05 Jan 2016

Gateway Distriparks is currently trading at Rs. 317.40, up by 4.00 points or 1.28% from its previous closing of Rs. 313.40 on the BSE.

The scrip opened at Rs. 315.50 and has touched a high and low of Rs. 317.40 and Rs. 314.90 respectively. So far 301 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 459.40 on 20-Jan-2015 and a 52 week low of Rs. 302.20 on 24-Aug-2015.

Last one week high and low of the scrip stood at Rs. 326.95 and Rs. 312.00 respectively. The current market cap of the company is Rs. 3451.03 crore.

The promoters holding in the company stood at 32.86% while Institutions and Non-Institutions held 56.73% and 10.41% respectively.

Gateway Distriparks has commenced construction of its Logistics Park at Krishnapatnam Port in Andhra Pradesh after receiving all necessary state government approvals. Targeting the trade in the Andhra Pradesh, Telengana and Karnataka region, the Logistics Park will offer comprehensive supply chain solutions through a CFS, general warehousing and reefer/cold storage services, along with transportation facilities. The Company is targeting to commence operations of the first phase of general warehousing and reefer and cold store by September 2016 and the CFS by end of December 2016.

The CFS at Krishnapatnam port, which is strategically located between Chennai and Visakhapatnam ports, will be the Company's 7th CFS. The Logistics Park will be the first of its kind at Krishnapatnam Port and drawing on its experience as a market leader in the industry, the company has planned the 48 acre area with world class infrastructure tailored to the trade's requirements and state-of-the-art technology to maximize efficiency once operations commence. The total Capex of this project will be to the tune of Rs 150 crore, with Rs. 80 crore utilised towards cost of land and construction of the first phase, and the balance Rs 70 crore for the second phase.

Gateway Distriparks is engaged in the business of warehousing, container freight stations, providing handling and clearance of sea borne export-import trade in containerized form. The company operates CFS located at Dronagiri, Navi Mumbai, New Manali, Chennai, Vishakapatnam and Inland Container Depot at Garhi Harsaru (near Delhi) and Haryana.


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Puchho Befikar
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