Buy Gati, target price Rs 200: Axis Securities

Axis Securities has buy call on Gati with a target price of Rs 200.The current market price of Gati is Rs 172.5. Axis Securities recommended to keep stop loss at Rs 160.

Gati, incorporated in the year 1995, is a Small Cap company (having a market cap of Rs 2257.11 Crore) operating in Logistics sector.

Gati key Products/Revenue Segments include Diesel, Petrol & Lubricants, Freight & Demurrage and Other Operating Revenue for the year ending 31-Mar-2022.


Financials
For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 428.37 Crore, up 1.38 % from last quarter Total Income of Rs 422.52 Crore and down -1.91 % from last year same quarter Total Income of Rs 436.72 Crore. Company has reported net profit after tax of Rs -2.75 Crore in latest quarter.

Investment Rationale
Inverse Head & Shoulder breakout at 163, with huge volumes, Daily and weekly RSI in positive terrain.

Promoter/FII Holdings
Promoters held 53.04 per cent stake in the company as of 30-Jun-2023, while FIIs owned 1.61 per cent, DIIs 1.37 per cent.