Logistics stocks gain for 2nd session in a row on GST hopes
The government on Wednesday made crucial tweaks to the GST bill in a move to enlist the support of the opposition parties as well as that of state governments.
By ET Online | Updated:
NEW DELHI: Shares of logistics companies gained for the second straight session on Friday after the government moved closer towards getting the GST (goods & services tax) Bill cleared by Parliament.
Gati rose 1.6 per cent while Transport Corp of India gained 0.8 per cent in morning trade. VRL Logistics rose 1 per cent and Allcargo Logistics 4 per cent.
The government on Wednesday made crucial tweaks to the GST bill in a move to enlist the support of the opposition parties as well as that of state governments. GST seeks to replace a slew of central and state levies.
According to analysts, lower tax rate and faster movement of goods and inventories will help the logistics providers.
Gati rose 1.6 per cent while Transport Corp of India gained 0.8 per cent in morning trade. VRL Logistics rose 1 per cent and Allcargo Logistics 4 per cent.
The government on Wednesday made crucial tweaks to the GST bill in a move to enlist the support of the opposition parties as well as that of state governments. GST seeks to replace a slew of central and state levies.
According to analysts, lower tax rate and faster movement of goods and inventories will help the logistics providers.
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