The call on Gati is a quant call because we are bullish on Blue Dart now.
Gati currently does a revenue of close to Rs 900 odd and is available at a market cap of Rs 450 crore. However, its promoter holding is 49% of which, a net 89% is pledged, which is a big area of risk. Thus, we have put a stop-loss of Rs 46-46.50. We suggest that one go long because with Blue Dart coming within an open offer in the next 6-8 months, Gati is a right candidate which, seen from market cap-to-sale perspective, will again go and test our fundamental target of Rs 72-74.
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