 "Logistics shares gain after yesterday’s fall")
Shares of logistics companies are trading higher erasing most of their yesterday’s losses on the bourses after the government indicated that it was reworking the goods and services tax (GST) rollout deadline to October 1, 2016.
Among the individual stocks, Gati has rallied 12% to Rs 143 on the BSE in early morning trade. The trading volumes on the counter more than doubled with a combined 3.64 million shares changing hands so far on the NSE and BSE.
At 01:38 PM, the stock was up 8% at Rs 139 on the BSE.
Patel Integrated Logistics (6% at Rs 84), Snowman Logistics (6% at Rs 99), Sical Logistics (3% at Rs 159), VRL Logistics (2% at Rs 410), Transport Corporation of India (1% at Rs 228) and Navkar Corporation (1% at Rs 165) are up more than 1% each. The S&P BSE Sensex was up 0.2% at 25,667.
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.
On Thursday, most of these stocks ended lower after the government on Wednesday abandoned plans to hold an extended monsoon session of Parliament to pass the GST Bill.
A day after the government dropped plans to call an extended monsoon session of Parliament to pass the GST Constitution amendment, NITI Aayog Vice-Chairman Arvind Panagariya told a business news channel that he was still hopeful of the GST rollout by middle of the financial year of 2016-17, that is by October 1, if not the proposed deadline of April 1, 2016, the Business Standard report suggests. CLICK HERE TO READ FULL REPORT
Among the individual stocks, Gati has rallied 12% to Rs 143 on the BSE in early morning trade. The trading volumes on the counter more than doubled with a combined 3.64 million shares changing hands so far on the NSE and BSE.
At 01:38 PM, the stock was up 8% at Rs 139 on the BSE.
Patel Integrated Logistics (6% at Rs 84), Snowman Logistics (6% at Rs 99), Sical Logistics (3% at Rs 159), VRL Logistics (2% at Rs 410), Transport Corporation of India (1% at Rs 228) and Navkar Corporation (1% at Rs 165) are up more than 1% each. The S&P BSE Sensex was up 0.2% at 25,667.
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.
On Thursday, most of these stocks ended lower after the government on Wednesday abandoned plans to hold an extended monsoon session of Parliament to pass the GST Bill.
A day after the government dropped plans to call an extended monsoon session of Parliament to pass the GST Constitution amendment, NITI Aayog Vice-Chairman Arvind Panagariya told a business news channel that he was still hopeful of the GST rollout by middle of the financial year of 2016-17, that is by October 1, if not the proposed deadline of April 1, 2016, the Business Standard report suggests. CLICK HERE TO READ FULL REPORT
