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Last Updated : Dec 31, 2019 11:39 AM IST | Source: Moneycontrol.com

Buy Gateway Distriparks target of Rs 150: Sharekhan

Sharekhan is bullish on Gateway Distriparks has recommended buy rating on the stock with a target price of Rs 150 in its research report dated December 30, 2019.

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Sharekhan's research report on Gateway Distriparks

Gateway Distriparks (GDL) sold its entire stake of 40.3% in Snowman Logistics for ~Rs. 296 crore to Adani Logistics. The proceeds of the sale of SLL stake and Chennai CFS would help GDL reduce debt by ~Rs. 320 crore (including part-payment of NCDs worth Rs. 270 crore). The de-leveraging of balance sheet and higher focus on growing rail business will improve the earnings growth in the near to medium term.


We stick to our Buy rating with a revised price target of Rs. 150.

For all recommendations report, click here

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First Published on Dec 31, 2019 11:39 am