Doha – Mubasher: Gulf Warehousing stock rose on Tuesday after the company announced a date for the upcoming board meeting to look into a capital increase move.

The stock gained 0.70% or QAR 0.40 to reach QAR 57.30, after a total of 8,800 shares were exchanged in 10 transactions at QAR 502,350.

The company it has decided to hold a board meeting on 25 March to discuss and approve several suggestions made by the ministry of economy and commerce regarding a capital increase for the company.

The company announced in December 2014 that its board recommended a capital increase of 11.89 million shares at QAR 40 each through a rights issue to shareholders.

The warehousing firm reported a 38% net profit growth in 2014 to QAR 140.3 million compared to QAR 101.6 million in 2013.