Logistics stocks gain after cabinet clears GST bill

Reuters Market Eye - Logistics companies Gateway Distriparks gains 5.6 percent, Snowman Logistics up 7.8 percent, Gati rises 6.7 percent and Container Corp of India up 3.1 percent.

India's cabinet clears bill for nationwide sales tax.

Lower tax rate and fast movement of goods and inventories will help logistics providers - analysts.

Tax as a percentage of PBT (Sept qtr)

Gateway Distriparks 34.4

Gati 30.7

Container Corp of India 25.1

Source: Reuters calculations from BSE data

($1 = 63.5150 rupees)

(Reporting by Abhishek Vishnoi)