Integrated inter-modal logistics company Gateway Distriparks has reported an about four-fold increase in consolidated net profit to Rs 46.60 crore for the March quarter on the back of strong recovery in throughput and realisations. The company had posted a consolidated net profit of Rs 11.69 crore in Q4 FY20, according to a statement. Total income rose 16.1 per cent to Rs 353.11 crore as against Rs 304.18 crore in the March quarter of fiscal 2019-20. The company operates four container freight stations at Navi Mumbai, Chennai, and Krishnapatnam. Two container freight stations are being operated at Kochi and Visakhapatnam through its subsidiaries, Gateway Distriparks (Kerala) Ltd and Gateway East India Pvt Ltd, respectively.
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Nifty futures on the Singapore Exchange traded 38 points, or 0.25 per cent, higher at 14,988 in signs that Dalal Street was headed for a positive start on Tuesday. Here are a few stocks which may buzz the most in today s trade:
Tata Communications: The government said it will sell up to 16.12 per cent stake in
Tata Communications through an Offer for Sale starting on Tuesday at the floor price of Rs 1,161 per equity share. As part of its exit plan from Tata Communications, the government is initially offering to sell up to 2.85 crore equity shares representing up to 10 per cent of the total paid up equity share capital of the company.
Here are the top stocks that are likely to be in focus today:
Tata Communication: Offer for sale (OFS) to divest government’s shareholding in Tata Communications will open Tuesday for institutional investors. The government will sell its 10 per cent stake held in erstwhile VSNL, with an option to sell an additional 6.12 per cent stake. The floor price has been set at Rs 1,161, a 9.8 per cent discount to Monday s closing price.
AU Small Finance Bank: The lender has raised Rs 625.50 crore through sale of shares to institutional investors.
Adani Ports: The company will partner with John Keells Holdings PLC and Sri Lankan Port Authority to develop the West Container Terminal (WCT) at the Colombo port in Sri Lanka.
BSE, NSE clear Gateway Distriparks amalgamation scheme - The Hindu BusinessLine thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.