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.
Outlook
We stick to our Buy rating with a revised price target of Rs. 150.
For all recommendations report, click here
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