Logistics stocks jump as Finance Minister announces GST switch-over from 30 June midnight
DSIJ Intelligence / 20 Jun 2017
All states have passed GST laws except Jammu & Kashmir and Kerala. Kerala will pass GST law in this week. All decisions by the GST council have been taken with consensus.
In Tuesday’s trading session, logistics stocks jumped as Finance Minister Arun Jaitley during a press conference said that the GST switch-over will happen from June 30 midnight and roll-out on July 1.
He further said that the revenues of the states and spending capacity of the government at the centre and in states are likely to increase and positively impact on the GDP of the country.
Soon after the development, stocks such as Patel Integrated rose 7%, Snowman Logistics rose 9%, Sical Logistics rose 6%, Gati rose 5%, Container Corporation of India rose 5% and Allcargo Logistics rose 2.5%.
All states have passed GST laws except Jammu & Kashmir and Kerala. Kerala will pass GST law in this week. All decisions by the GST council have been taken with consensus.
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