Gati shoots up 7% as Japan's KWE gets 30% stake in its arm

In a release sent to exchanges, company said, "Gati has concluded the joint venture with Japan's Kintetsu World Express to form Gati-Kintetsu Express Pvt Ltd, the new leader in express distribution and supply chain solutions in the country."

Under the JV agreement, Gati will hold 70% stake and 30% will be held by Kintetsu World Express (KWE) in Gati-Kintetsu Express Pvt Ltd.

At 13:54 hours IST, the share was trading at Rs 42.35, up 0.83% amid heavy volumes.
 
Its trading volumes spiked 210% to 11,95,386 equity shares as compared to its 5-day average of 3,86,745 shares.
 
Market capitalisation of the company currently stands at Rs 366.68 crore.