Gateway Distriparks hits 52-week low on FPI selling

Shares of Gateway Distriparks hit a 52-week low of Rs 187 per share, down 3.6%, extending their Friday’s 5% decline on the BSE, after the foreign portfolio investor (FPI) Morgan Stanley reduced its stake in the company through open market.

Morgan Stanley offloaded 1.01 million shares representing 0.92% stake of Gateway Distriparks at Rs 201 per share in a bulk deal on the NSE on Friday, 16 March 2018.
Promoter Prem Kishan Gupta bought one million shares, the bulk deal data shows.

As of December 2017, Morgan Stanley India Investment Fund, Inc. and Morgan Stanley Investment Funds Indian Equity Fund collectively hold 4.54% stake in Gateway Distriparks. Prem Kishan Gupta controlled 0.76% stake in the company, the shareholding pattern data shows.
The stock hit an intra-day low of Rs 190 on the NSE, was less than 1% away from its 52-week low of Rs 189 touched on March 16, 2018.

A combined 91,012 equity shares changed hands on the BSE and NSE till 12:49 am.