Gateway Distriparks shines on receiving approval to merge subsidary

07 Feb 2013

Gateway Distriparks is currently trading at Rs. 135.10 up by 1.70 points or 1.27% from its previous closing of Rs. 133.40 on the BSE.

The scrip opened at Rs. 143.90 and has touched a high and low of Rs. 143.90 and Rs. 132.10 respectively. So far 2,642 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 159.90 and a 52 week low of Rs. 126.00.

The current market cap of the company is Rs. 1,465.00 crore.

The promoters holding in the company stood at 40.68% while Institutions and Non-Institutions held 43.00% and 16.32% respectively.

Gateway Distriparks has received an approval for merger of Gateway Distriparks (South) with the company with effect from April 01, 2013. The board at its meeting held on February 06, 2013 has approved for the same. Gateway Distriparks (South), a wholly owned subsidiary of Gateway Distriparks, has got its registered office at New Manali in Chennai.

Pursuant to the scheme coming into effect, the shares of Gateway Distriparks (South) will stand cancelled and the entire undertaking shall stand transferred to the company.

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
SEBI Registered: Investment Adviser - INA000013323