Logistics stocks end mixed after initial gains

Shares of logistics companies ended on a mixed note, a day after the sector was granted infrastructure status which will help it access loans on easier terms, encourage manufacturing in the country and help improve economic growth.
The scrip of Allcargo Logistics gained 1.36 per cent, Blue Dart Express went up by 1.33 per cent and Gateway Distriparks rose by 1.27 per cent on BSE.
However, others such as VRL Logistics and Gati Ltd failed to maintain initial gains and ended in the red due to profit- booking.
Shares of Gati plunged 5.76 per cent, Transport Corporation of India went down by 1.54 per cent and VRL Logistics fell by 0.69 per cent.

The cost of logistics in India is very high compared to developed countries and the sector's development will provide a boost to domestic as well as external demand, encouraging manufacturing and job creation, the government said yesterday.