 "Logistics shares gain; Gati surges over 5%")
Shares of logistics service providers such as Gati, Transport Corporation of India, Snowman Logistics and Patel Integrated Logistics are trading higher by up to 9% each on reports that the government is considering reconvening Parliament to make another attempt to pass the Goods and National Sales Tax (GST).
Among individual stocks, Gati has rallied nearly 9% to Rs 138 on the BSE. Transport Corporation of India and Patel Integrated Logistics have surged by 6% each at Rs 247 and Rs 77.80 respectively, followed by Snowman Logistics (up 5% at Rs 95) and Gateway Distriparks (up 3% at Rs 324).
Most of these stocks had fallen by 10%-30% each in the past one week.
According to analysts, lower tax rates and fast movement of goods and inventories will help logistics providers.
Among individual stocks, Gati has rallied nearly 9% to Rs 138 on the BSE. Transport Corporation of India and Patel Integrated Logistics have surged by 6% each at Rs 247 and Rs 77.80 respectively, followed by Snowman Logistics (up 5% at Rs 95) and Gateway Distriparks (up 3% at Rs 324).
Most of these stocks had fallen by 10%-30% each in the past one week.
According to analysts, lower tax rates and fast movement of goods and inventories will help logistics providers.