• October 21, 2024
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Gateway Distriparks shares gain 3% after Citi says ‘buy’ on attractive valuations

Gateway Distriparks shares gain 3% after Citi says 'buy' on attractive valuations

Gateway Distriparks will continue to maintain its market share in key markets, Citi said.

GATEWAY DISTRIPARKS

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Shares of Gateway Distriparks rose 3 percent on June 19 after Citi said ‘buy’ to the company’s stock as valuation looked attractive. The brokerage firm has a target price of Rs 90, which implies an upside of 19 percent from today’s high.

At 9:25 am, shares of the company were trading 2.7 percent higher at Rs 75.4 on the BSE. The stock had hit its 52-week high at Rs 76.60.

Gateway Distriparks will continue to maintain its market share in key markets and Faridabad Terminal will also start double stacking in 4-5 months, Citi highlighted.

Catch up on all LIVE stock market updates here

The focus will remain on the Western Dedicated Freight Corridor, the global brokerage firm highlighted. Post the company’s quarterly results, management said that it expects that as more stretches of the Dedicated Freight Corridor are completed, it will lead to faster transit time and make operations more efficient.

In June, Sharekhan upgraded its rating on Gateway Distriparks shares to ‘buy’ and a price target of Rs 80. This was after adjusting their valuation based on the company’s earnings forecast for FY25 and taking into account the improved outlook for export-import growth.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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