Shares of logistics solution providers edged lower in trade after the Union Government announced its intent to transform India Post into a large public logistics organisation.
In her Budget Speech, the Finance Minister said: "India Post with 1.5 lakh rural post offices complemented by the India Post Payment Bank and a vast network of 2.4 lakh dark bucks will be repositioned to act as a catalyst for the rural economy India Post will also be transformed as a large public logistics organisation.
Following this announcement, shares of Allcargo Logistics (down 1.92%), Delhivery (down 1.73%) and Blue Dart Express (down 1.40%) and declined.
Finance Minister Nirmala Sitharaman is currently presenting the Union Budget 2025-26 in the Lok Sabha today, marking the Modi government's second budget in its third term. This will be Sitharamans eighth consecutive budget since 2019.
The budget session will take place in two phases: the first part runs until February 13, while the second session will be held from 10 March 2025 to 04 April 2025.
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