Logistics shares extend rally; VRL Logistics hits new high

VRL Logistics,Transport Corporation, Patel Integrated, Gati , Sical Logistics and Snowman Logistics up more than 5% each.

Shares of logistics companies are trading higher for third straight day on hopes that the government is considering reconvening Parliament to make another attempt to pass the Goods and Services Tax (GST).

VRL Logistics (up 12% at Rs 462), Transport Corporation of India (12% at Rs 284), Patel Integrated Logistics (11% at Rs 91), Gati (8% at Rs 146), Sical Logistics (8% at Rs 167), Snowman Logistics (7% at Rs 106) and Allcargo Logistics (6% at Rs 314) are up more than 5% each.

At 12:05 AM, the S&P BSE Sensex was up 1.5% or 405 points at 26,636.

Most of these stocks have rallied more 10% each in past three trading sessions, against 2.3% rise in the benchmark index.

VRL Logistics has zoomed 16% to Rs 478, new high since listing in April 2015 on the BSE in intra-day trade on back of heavy volumes. The trading volumes on the counter jumped more than five-fold with a combined 1.67 million shares changed hands till noon deals on the BSE and NSE.

The company sees a huge opportunity in logistics business in the country. 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, Dr Vijay Sankeshwar, chairman and managing director said during the company’s Annual General Meeting on August 8, 2015.

	Price on BSE in Rs			Returns in %
Company	25/08/2015	27/08/2015	28/08/15*	1 day	3 days
VRL Logistics	379.00	413.00	462.50	11.99	22.03
Transport Corp.	232.80	254.30	284.50	11.88	22.21
Patel Integrated	73.10	82.10	91.10	10.96	24.62
Sical Logistics	147.10	154.70	167.10	8.02	13.60
Gati	125.55	136.35	146.70	7.59	16.85
Snowman Logistic	89.70	99.00	105.80	6.87	17.95
Allcargo Logistics	278.20	295.10	314.00	6.40	12.87
*At 12:15 PM