This Micro Cap Stock Has Gone Up 16% In The Past Month, And Porinju Veliyath Just Picked Up A Stake

Veteran investor Porinju Veliyath’s Equity Intelligence picked up a stake in Gati through a bulk deal on Monday.

As per NSE data, Equity Intelligence picked up 8.27 lakh shares of the company at an average price of ₹151.54. The total deal value comes to ₹12.53 crore. With the current market price of around ₹154, the stake is currently worth around ₹12.73 crore.

With a market cap of around ₹2,000 crore, the micro-cap stock also counts ace investor Mukul Agrawal as a shareholder. Agrawal owns 70 lakh shares of the company. The stock has recently caught some steam going up over 16% in the last month.

The logistics company last week released its earnings for the quarter ended June. The company’s consolidated revenue from operations was down 1.1% year-over-year at ₹426.2 crore. The company booked a loss of ₹1.27 crore in the June quarter as compared to the ₹4.2 crore profit it booked in the same quarter last year.

Price Action: Gati’s share price was trading 0.42% at ₹154.50 in the early hours of trading on Tuesday.

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Posted In: EquitiesMarketsEquity IntelligenceGatiPorinju Veliyath