Logistics shares in focus; Aegis Logistics hits record high

Aegis Logistics, Gati, Snowman Logistics, Sical Logistics Patel Integrated and Transport Corporation are up 3-18% on the BSE.

Shares of logistics firms are in focus and trading higher by up to 18% on the bourses in an otherwise subdued market.

Among the individual stocks, Aegis Logistics has zoomed 18% to Rs 638, also its record high on the BSE. The counter has seen over three-fold jump in trading volumes with a combined 634,120 shares changed hands till noon deal on the BSE and NSE.

Gati surged 8% to Rs 243 on back of heavy volumes ahead of an extra ordinary general meeting (EGM) on March 20, 2015 to take shareholders approval for fund raising plans.

In January this year, Indian distribution and supply chain solutions provider had announced that it is planning to raise Rs 120 crore for expansion of e-commerce business.

Transport Corporation of India soared 10% to Rs 283 followed by Patel Integrated Logistics (5% at Rs 130), Sical Logistics (4% at Rs 178) and Snowman Logistics (3% at Rs 85) on the BSE. The benchmark S&P BSE Sensex was down 0.06% or 17 points at 28,719 at 1147 hours.

According to media reports, E-commerce majors Flipkart and Snapdeal are all set to battle it over 'express delivery', which is widely considered to play a key differentiator in the crowded online retail space going forward. CLICK HERE TO READ FULL REPORT