Gateway Distriparks share price rose 6 percent intraday on June 2 after the broking firm Sharekhan revised the price target to Rs 80 and upgraded the rating to "buy".
Gateway Distriparks has shown resilient performance in the wake of EXIM imbalance and sustained pressure in CFS business led by increased fixed costs, Sharekhan said.
The company's exports are improving, especially in its core National Capital Region (NCR), which is expected to aid in improving operational profitability. The company continues to evaluate newer locations for terminals, upgrade existing terminals and hire new rakes for which it has earmarked Rs. 300 capex over the next two years, it said.
The company remains on track to benefit from an expected improvement in exports, Sharekhan said. The broking house has rolled forward valuation multiple to FY2025 earnings and considering improving EXIM growth outlook.
The company posted a net profit of Rs 68.48 crore in March quarter, down 19.46 percent from Rs 85.02 crore in March 2022.
Revenue stood at Rs 376.97 crore against Rs 359.05 crore, YoY
Gateway Distriparks ended at Rs 69.42, up Rs 3.47, or 5.26 percent on the BSE.
The share touched a 52-week high of Rs 76.60 on November 10, 2022 and a 52-week low of Rs 58.50 on March 1, 2023. It is trading 9.33 percent below its 52-week high and 18.72 percent above its 52-week low.
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