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Logistics shares fall on profit booking

Gati, Snowman Logistics, Allcargo Logistics, Transport Corporation and Sical Logistics were down 4%-8% on the BSE.

Logistics shares fall on profit booking
SI Reporter Mumbai
Last Updated : Jun 14 2016 | 3:08 PM IST
Shares of logistics companies have slipped by up to 12% in an intra-day trade on the bourses on profit booking.

Gati, Snowman Logistics, VRL Logistics, Allcargo Logistics, Transport Corporation of India and Sical Logistics were down 4%-8% on the BSE

Since June 7, most of these stocks have outperformed the market by gaining up to 26% after West Bengal Chief Minister Mamata Banerjee said the state government is supporting the goods and services tax (GST) for rolling out of the one tax formula.

Gati has dipped 8% to Rs 156, falling 12% from its intra-day high of Rs 177 on the BSE. The stock had rallied 26% in past four trading sessions from Rs 134 on June 7, to Rs 170 on Monday.

According to media reports, after the first day of meeting, Finance Minister Arun Jaitley said that all states except Tamil Nadu backed the GST bill. CLICK HERE TO READ FULL REPORT.
 
Name 07/06/2016 13/06/2016 % chg LTP % chg
Snowman Logistic 65.65 79.10 20.49 73.10 -7.6
Gati 134.45 169.50 26.07 158.30 -6.6
Allcargo Logist. 162.90 177.35 8.87 168.05 -5.2
Transport Corp. 295.85 320.45 8.32 305.45 -4.7
Sical Logistics 147.35 159.55 8.28 153.05 -4.1
VRL Logistics 282.50 309.95 9.72 299.00 -3.5
           
Sensex 27009.67 26396.77 -2.27 26373.32 -0.1
           
* LTP : Last traded price on BSE at 02:43 PM

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First Published: Jun 14 2016 | 3:02 PM IST

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