Logistics stocks rally up to 10% after Jaitley sticks to July 1 GST rollout

While addressing the media in New Delhi, Jaitley said GST should have a positive impact on the GDP

Shares of logistics companies such as VRL Logistics, Snowman Logistics, GATI and Allcargo Logistics etc advanced up to 10% in an otherwise flat market after Finance Minister Arun Jaitley announced that switch-over to Goods and Services (GST) will happen from June 30 midnight, and that industry must be prepared for short-term challenges on GST rollout.

Snowman Logistics surged as much as 9.7% to Rs 59, while VRL Logistics rallied 6% to Rs 352 on the BSE. Gati hit an intraday high of Rs 133.60, up nearly 7%, while Allcargo Logistics also rose 3%. 

Blue Dart Express, Tiger Logistics and Kesar Terminals &