 "Logistics shares extend rally; VRL Logistics hits new high")
Shares of logistics companies are trading higher for third straight day on hopes that the government is considering reconvening Parliament to make another attempt to pass the Goods and Services Tax (GST).
VRL Logistics (up 12% at Rs 462), Transport Corporation of India (12% at Rs 284), Patel Integrated Logistics (11% at Rs 91), Gati (8% at Rs 146), Sical Logistics (8% at Rs 167), Snowman Logistics (7% at Rs 106) and Allcargo Logistics (6% at Rs 314) are up more than 5% each.
At 12:05 AM, the S&P BSE Sensex was up 1.5% or 405 points at 26,636.
Most of these stocks have rallied more 10% each in past three trading sessions, against 2.3% rise in the benchmark index.
VRL Logistics has zoomed 16% to Rs 478, new high since listing in April 2015 on the BSE in intra-day trade on back of heavy volumes. The trading volumes on the counter jumped more than five-fold with a combined 1.67 million shares changed hands till noon deals on the BSE and NSE.
The company sees a huge opportunity in logistics business in the country. If Transport Bill and GST Bill gets nod in the Parliament, then there is no doubt that it will be an added advantage for the growth of logistics businesses across the country, Dr Vijay Sankeshwar, chairman and managing director said during the company’s Annual General Meeting on August 8, 2015.
VRL Logistics (up 12% at Rs 462), Transport Corporation of India (12% at Rs 284), Patel Integrated Logistics (11% at Rs 91), Gati (8% at Rs 146), Sical Logistics (8% at Rs 167), Snowman Logistics (7% at Rs 106) and Allcargo Logistics (6% at Rs 314) are up more than 5% each.
At 12:05 AM, the S&P BSE Sensex was up 1.5% or 405 points at 26,636.
Most of these stocks have rallied more 10% each in past three trading sessions, against 2.3% rise in the benchmark index.
VRL Logistics has zoomed 16% to Rs 478, new high since listing in April 2015 on the BSE in intra-day trade on back of heavy volumes. The trading volumes on the counter jumped more than five-fold with a combined 1.67 million shares changed hands till noon deals on the BSE and NSE.
The company sees a huge opportunity in logistics business in the country. If Transport Bill and GST Bill gets nod in the Parliament, then there is no doubt that it will be an added advantage for the growth of logistics businesses across the country, Dr Vijay Sankeshwar, chairman and managing director said during the company’s Annual General Meeting on August 8, 2015.
| Price on BSE in Rs | Returns in % | ||||
| Company | 25/08/2015 | 27/08/2015 | 28/08/15* | 1 day | 3 days |
| VRL Logistics | 379.00 | 413.00 | 462.50 | 11.99 | 22.03 |
| Transport Corp. | 232.80 | 254.30 | 284.50 | 11.88 | 22.21 |
| Patel Integrated | 73.10 | 82.10 | 91.10 | 10.96 | 24.62 |
| Sical Logistics | 147.10 | 154.70 | 167.10 | 8.02 | 13.60 |
| Gati | 125.55 | 136.35 | 146.70 | 7.59 | 16.85 |
| Snowman Logistic | 89.70 | 99.00 | 105.80 | 6.87 | 17.95 |
| Allcargo Logistics | 278.20 | 295.10 | 314.00 | 6.40 | 12.87 |
| *At 12:15 PM | |||||