Gateway Distriparks zooms 3.5% on rail unit IPO buzz

Shares of Gateway Distriparks Ltd were closed higher 3.5% at Rs. 380 on BSE today. The company is  planning to list Gateway Rail Freight, valued by analysts at nearly $500 million, by the end of the current financial year in March 2016, as per the media report.

The stock opened at Rs. 375 as against the previous close of Rs. 367 on BSE. It has hit a high of Rs. 385 and a low of Rs. 375 on BSE today.

Total traded quantity on the counter stood at over 0.85 lk shares on BSE.

On Wednesday, the benchmark BSE Sensex opened 40-odd points higher at 29,087.  The index could barely touch a high of 29,095, before slipping into the negative terrain on account of weakness in auto, pharma and IT shares. And finally ended with a prominent loss of 245 points at 28,800.

The NSE Nifty touched a high of 8,845 in opening trades, and tanked to a low of 8,722 in late noon deals. The Nifty eventually settled with a loss of 84 points at 8,750.

The India VIX (Volatility) index jumped nearly a percent in late trades to 14.62.