GATI, one India's largest logistics player, has reported an excellent set of numbers in Q3FY2014, with strong growth in profitability across its various verticals. Gati is currently among the top 5 in the E-commerce logistics business. But with the vertical expected to grow at a CAGR of 100% over the next few years, the company could well climb up in its rankings. With the sale of one of its ships nearing completion, the company is well on track to exit from the loss-making shipping business. The increased client accretion resulting from the JV synergies and management's commitment to maintaining debt below Rs.5 bn, we believe Gati is a strong opportunity unfolding in the Indian logistics landscape....