Logistics stocks up as FM announces GST roll out date
Shital Jibhe / 17 Jan 2017
Logistics stocks were trading higher in the early trading hours on Tuesday. The rally was attributed to the outcome of the GST Council meeting held on Monday.
Logistics stocks were trading higher in the early trading hours on Tuesday. The rally was attributed to the outcome of the GST Council meeting held on Monday.
After the meeting, Finance Minister Arun Jaitley informed during the press briefing on Monday that the GST would be rolled out from July 1, 2017. Jaitley informed that the draft of integrated GST and IGST, taxes that will be levied by the Centre, and SGST and CGST, will be finalised in the next meeting on February 18, 2017.
Logistics stocks such as Snowman Logistics, Shreyas Shipping & Logistics, Patel Integrated Logistics, Allcargo Logistics and Aegis Logistics witnessed a rally in Tuesday's morning session, gaining more than 1 per cent. VRL Logistics, Gati and Tiger Logistics were also up by 1.75, 2.69 and 0.67 per cent, respectively.
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