Logistics shares in focus; Gati, Snowman, Allcargo up over 5%

Patel Integrated, VRL Logistics, Transport Corporation and Sical Logistics were up more than 2% each

Shares of logistics companies were in focus as they rallied by up to 16% on BSE during the noon deals in an otherwise subdued market on back of heavy volumes.

Gati, Snowman Logistics, Patel Integrated Logistics, Allcargo Logistics and Starlog Enterprises were up between 5% and 16%, while VRL Logistics, Transport Corporation of India and Sical Logistics were down 2%-4% on the BSE. On comparison, the S&P BSE Sensex was down 0.04% or 12 points at 28,802 at 12:11 pm.

According to analysts at ICICI Securities, the Indian logistics industry is highly fragmented with 67% of vehicle owners