Meanwhile, the BSE Sensex was up 16.13 points, or 0.08%, to 21,159.14.

On BSE, so far 18.43 lakh shares were traded in the counter, compared with an average volume of 2.42 lakh shares in the past one quarter.

The stock hit a high of Rs 49.40 so far during the day, which is also a 52-week high for the counter. The stock hit a low of Rs 45.35 so far during the day. The stock hit a 52-week low of Rs 22.65 on 2 August 2013.

The stock had outperformed the market over the past one month till 30 December 2013, rising 52.87% compared with the Sensex's 1.69% rise. The scrip had also outperformed the market in past one quarter, rising 86.62% as against Sensex's 9.10% rise.

The small-cap the logistics provider has an equity capital of Rs 17.32 crore. Face value per share is Rs 2.

A fund run by independent investor Radhakishan Damani bought 40.18 lakh shares, or 4.64% of the total equity in Gati on Monday, 30 December 2013. Shares of Gati hit an upper circuit limit of 20% at Rs 43.95 on Monday.

Derive Investments, an investment company run by Damani who is known in India for his stock picks, bought 7.38 lakh equity shares in a single block deal on BSE at Rs 42.23 per share.

Derive Investments struck two bulk deals on NSE. In the first deal, it acquired 6.50 lakh shares at Rs 44 each. It bought 26.29 lakh shares at Rs 41.76 each in the second deal.

On a consolidated basis, Gati reported a net profit of Rs 4.60 crore in Q1 September 2013 compared with a net loss of Rs 7.79 crore in Q1 September 2012. Net sales rose 20.9% to Rs 360.18 crore in Q1 September 2013 over Q1 September 2012.

Gati is one of the leading logistics companies in India. It offers an integrated Express Distribution and customized Supply Chain Solutions to customers across diverse industry verticals. A market leader in India, Gati has a strong market presence in the Asia Pacific region and SAARC countries. Gati has offices in China, Singapore, Hong Kong, Thailand, Nepal and has plans to foray into other markets.