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.
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
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.