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Allcargo Gati Shares Soar 11% After Rohini Nilekani Buys Stake

Shares of Allcargo Gati, a small-cap logistics company, jumped 11% over two days, reaching a high of ₹116.75 on the BSE. This surge followed the news that Rohini Nilekani, philanthropist and wife of Infosys co-founder Nandan Nilekani, bought ₹8.55 crore worth of shares on Thursday.

Rohini’s investment included 8,13,375 shares, giving her a 0.62% stake at ₹105.21 per share, as reported by NSE block deal data.

As of June 2024, 46.90% of Allcargo Gati’s equity was owned by the promoters and their group, while the remaining 53.10% was held by public shareholders.

Earlier, on July 2, Allcargo Gati raised ₹169.28 crore through a qualified institutional placement (QIP), with plans to invest in technology and infrastructure, and to reduce debt, helping the company grow and improve its financial health.

This year, the stock has fallen by 10.3%, and over the past year, it has decreased by 30%. However, in the last six months, it has gained 12%.

Currently, the stock is performing well, trading above its short, medium, and long-term moving averages, and has a relative strength indicator (RSI) near 63, according to Trendlyne.

Allcargo Gati, based in Hyderabad, is part of the Allcargo Group, a leading logistics service provider in India. The company offers a variety of logistics services, including multimodal transportation, warehousing, supply chain management, and express distribution.

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