Gati bouncs back strongly

Gati is a strong gainer in today’s weak markets. It had hit a new 52-week low yesterday at Rs.115. Today, punters seem to have entered at the low levels. The stock is currently up 7.5% at Rs.135 with an intra day high at Rs.138.

The stock is up mainly on bottom fishing. Plus the news that the Govt is considering a Special Session of the Parliament, mainly to ensure passage of GST Bill. The Congress continues to remain non-committal about the special session but market is hoping that better sense will prevail, there will be a constructive debate in the Parliament and the GST finally see’s the light of the day.

Logistic companies like Gati are the sure shot gainers if GST does get through and that is what is presently giving momentum to the stock.