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Most of Gati’s e-commerce revenues come from online retailers such as Myntra, Naaptol, TV18 and Flipkart, for whom it delivers 15,000 packages a day Gati Ship has been incurring losses for last 4-5 years. We have lost significant money in Gati Shipping. Management has taken significant amount of initiatives to reduce these losses in the last 2 years. As a first step, we have hived off the business into a separate company known as Gati Ship Ltd. We sold three loss making ships and we have also diluted our stake to the extent of 40per cent. So currently we are holding only 60per cent. The losses have come down, though still it is making losses. So we are left now with two ships. One ship is on the East Coast and one ship is being run in partnership with ISL on the West Coast of India. Our strategy is to completely stop the bleed in the business. We are still looking for further dilution in terms of becoming a minority partner or completely exiting the business in the next 2-3 quarters. The domestic bourses have registered significant gains in the early morning session tracking mostly positive global cues. The U.S. markets ended mixed overnight and European stocks gained ground following dovish remarks from European Central Bank President Mario Draghi, while stocks elsewhere across the Asia-Pacific region are fluctuating on lingering worries about the recent upsurge in violence in Ukraine.
Pro-Moscow separatists in eastern Ukraine have rejected an appeal from Russian President Vladimir Putin to postpone disputed independence referendums planned for May 11, increasing the chances of major violence. Meanwhile, Chinese inflation figures came broadly in line with expectations.
At 10:29AM BSE SENSEX was at 22568.74 up by 224.7 points or by 1.01 per cent and then NSE Nifty was at 6709.3 up by 49.45 points or by 0.74 per cent.
The top gainers of the BSE Sensex pack were Hindalco Industries Ltd. (Rs. 139.55,+2.27%), Mahindra & Mahindra Ltd. (Rs. 1087.05,+2.23%), Tata Power Company Ltd. (Rs. 77.90,+2.10%), Coal India Ltd. (Rs. 299.65,+1.87%), Housing Development Finance Corporation Ltd. (Rs. 864.45,+1.79%), among others.
The top losers of the BSE Sensex pack were Sesa Sterlite Ltd. (Rs. 178.85,-0.64%), Dr. Reddy's Laboratories Ltd. (Rs. 2723.75,-0.55%), among others.
The top gainers of the NSE Nifty pack were Hindalco Industries Ltd. (Rs. 139.70,+2.16%), Ambuja Cements Ltd. (Rs. 196.90,+2.05%), Mahindra & Mahindra Ltd. (Rs. 1085.55,+2.01%), Tata Power Company Ltd. (Rs. 77.75,+1.90%), Power Grid Corporation of India Ltd. (Rs. 105.35,+1.74%), among others.
The top losers of the NSE Nifty pack were GAIL (India) Ltd. (Rs. 362.75,-0.79%), Sesa Sterlite Ltd. (Rs. 178.60,-0.78%), Dr. Reddy's Laboratories Ltd. (Rs. 2723.00,-0.52%), Lupin Ltd. (Rs. 975.00,-0.44%), Tata Steel Ltd. (Rs. 400.50,-0.37%), among others.
In BSE, BSE_CGS index was at 12324.92 up by 168.88 points and BSE Power index was at 1697.37 up by 22.77 points.
Pro-Moscow separatists in eastern Ukraine have rejected an appeal from Russian President Vladimir Putin to postpone disputed independence referendums planned for May 11, increasing the chances of major violence. Meanwhile, Chinese inflation figures came broadly in line with expectations.
At 10:29AM BSE SENSEX was at 22568.74 up by 224.7 points or by 1.01 per cent and then NSE Nifty was at 6709.3 up by 49.45 points or by 0.74 per cent.
The top gainers of the BSE Sensex pack were Hindalco Industries Ltd. (Rs. 139.55,+2.27%), Mahindra & Mahindra Ltd. (Rs. 1087.05,+2.23%), Tata Power Company Ltd. (Rs. 77.90,+2.10%), Coal India Ltd. (Rs. 299.65,+1.87%), Housing Development Finance Corporation Ltd. (Rs. 864.45,+1.79%), among others.
The top losers of the BSE Sensex pack were Sesa Sterlite Ltd. (Rs. 178.85,-0.64%), Dr. Reddy's Laboratories Ltd. (Rs. 2723.75,-0.55%), among others.
The top gainers of the NSE Nifty pack were Hindalco Industries Ltd. (Rs. 139.70,+2.16%), Ambuja Cements Ltd. (Rs. 196.90,+2.05%), Mahindra & Mahindra Ltd. (Rs. 1085.55,+2.01%), Tata Power Company Ltd. (Rs. 77.75,+1.90%), Power Grid Corporation of India Ltd. (Rs. 105.35,+1.74%), among others.
The top losers of the NSE Nifty pack were GAIL (India) Ltd. (Rs. 362.75,-0.79%), Sesa Sterlite Ltd. (Rs. 178.60,-0.78%), Dr. Reddy's Laboratories Ltd. (Rs. 2723.00,-0.52%), Lupin Ltd. (Rs. 975.00,-0.44%), Tata Steel Ltd. (Rs. 400.50,-0.37%), among others.
In BSE, BSE_CGS index was at 12324.92 up by 168.88 points and BSE Power index was at 1697.37 up by 22.77 points.
