 "Logistics shares extends gain; Gati, Snowman up over 3%")
Shares of logistics companies were trading higher for the second straight day on BSE after the Goods and Services Tax (GST) Council on Monday broke a deadlock over issues of administrative control over assessees and broadly agreed to roll out the GST from July 1, instead of the earlier deadline of April 1.
Gati, Patel Integrated Logistics, Snowman Logistics, Transport Corporation of India, Allcargo Logistics, Sical Logistics, Gateway Distriparks and VRL Logistics were up 1%-5% as compared to 0.29% rise in the S&P BSE Sensex at 09:24 am. Most of these stocks were ended higher between 1% and 8% on Monday.
The next meeting of the Council has been convened on February 18. By that time, changes to various Bills will be worked out and these will ready to be passed by Parliament and state Assemblies. Rules and segment-wise GST rates will take till March to finalise, pushing the introduction of the GST to July 1, the Business Standard report suggests. CLICK HERE TO READ FULL REPORT.
Introduction of GST remains a much awaited reform, which will simplify tax complications and would benefit consumers, produces, and the Government.
Implementation of GST will overhaul and compress the entire transportation setup. It will lead to consolidation of widely spread warehouses, on the contrary free movement of goods and services would necessitate tightened logistics networks.
Gati, Patel Integrated Logistics, Snowman Logistics, Transport Corporation of India, Allcargo Logistics, Sical Logistics, Gateway Distriparks and VRL Logistics were up 1%-5% as compared to 0.29% rise in the S&P BSE Sensex at 09:24 am. Most of these stocks were ended higher between 1% and 8% on Monday.
The next meeting of the Council has been convened on February 18. By that time, changes to various Bills will be worked out and these will ready to be passed by Parliament and state Assemblies. Rules and segment-wise GST rates will take till March to finalise, pushing the introduction of the GST to July 1, the Business Standard report suggests. CLICK HERE TO READ FULL REPORT.
Introduction of GST remains a much awaited reform, which will simplify tax complications and would benefit consumers, produces, and the Government.
Implementation of GST will overhaul and compress the entire transportation setup. It will lead to consolidation of widely spread warehouses, on the contrary free movement of goods and services would necessitate tightened logistics networks.
| COMPANY | LATEST | PREV CLOSE | GAIN(%) |
| SNOWMAN LOGISTIC | 62.60 | 59.45 | 5.30 |
| GATI | 125.20 | 120.85 | 3.60 |
| VRL LOGISTICS | 291.70 | 282.65 | 3.20 |
| PATEL INTEGRATED | 85.00 | 82.50 | 3.03 |
| TRANSPORT CORP. | 162.00 | 158.30 | 2.34 |
| CHART.LOGISTICS | 22.60 | 22.10 | 2.26 |
| ALLCARGO LOGIST. | 185.85 | 182.10 | 2.06 |
| SICAL LOGISTICS | 238.50 | 234.75 | 1.60 |
| CONTAINER CORPN. | 1210.95 | 1199.10 | 0.99 |
| GATEWAY DISTR. | 235.90 | 234.35 | 0.66 |
| BLUE DART EXP. | 4459.95 | 4433.95 | 0.59 |
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