Gateway Distripark is India’s leading logistics company focused on operating Container Freight Stations and goods trains. The business if driven by international trade which was tepid before the pandemic but has now revived. An important long term development for the company is the gradual commissioning of the Dedicated Freight Corridor from the North to Gujarat and onwards to the Nhava Sheva port outside Mumbai. This will lead to higher rail freight traffic for the company especially from the NCR where Gateway has a strong position. We have a neutral weight rating as valuations are fair, management is attempting to reduce debt and long term prospects for freight traffic are bright, however the business is a low RoI venture unless volumes rise – 30-07-2021 Price: 281.65 Rating: Neutral Weight Recommendation: Hold
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