Nandan Nilekani's wife acquires Rs 8.55 crore stake in this small-cap logistics firm
Rohini Nilekani, philanthropist and wife of Infosys co-founder Nandan Nilekani, purchased shares worth Rs 8.55 crore in logistics firm Allcargo Gati via open market transactions on Thursday.
Rohini Nilekani's smallcap portfolio acquired 8,13,375 shares, representing a 0.62% stake, at Rs 105.21 per share, according to NSE block deal data.
Earlier, on July 2, Allcargo Gati raised Rs 169.28 crore through a qualified institutional placement (QIP), following approval from its board’s fund-raising committee. The proceeds will be invested in technology, infrastructure, and deleveraging the balance sheet to support the company’s growth initiatives and strengthen its financial position.
According to Trendlyne data, the average target price for the stock is Rs 131, indicating a potential upside of 20% from the current market price. The stock has received a 'Strong Buy' recommendation from one analyst.
From a technical standpoint, Allcargo Gati's relative strength index (RSI) stands at 63.3, suggesting it is neither overbought nor oversold. The stock is currently trading above its 10-day, 20-day, 30-day, 50-day, 100-day, and 150-day simple moving averages (SMAs).
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