1. Gati, Aegis Logistics, Gateway Distriparks shares fall as GST hopes fade

Gati, Aegis Logistics, Gateway Distriparks shares fall as GST hopes fade

Logistics major Container Corporation of India was trading 4.04 per cent down at Rs 1,362 in the afternoon trade (at 2.50 pm). Gati was trading 8.46 per cent down at Rs 151.40.

By: | Updated: December 9, 2015 5:17 PM
Sensex, Nifty, bse, nse, Stock maket today, logistics, gati, aegis logistics, container corp

Share price of logistics companies fell sharply on Wednesday after the Opposition Congress party disrupted a Parliament session on Tuesday

Share price of logistics companies fell sharply on Wednesday after investors got worried about a possible delay in the key goods and services tax (GST) bill after Opposition Congress party disrupted the Parliament session for second day in a row.

Logistics major Container Corporation of India fell 5.59 per cent to Rs 1,340 on Wednesday. Others such as Allcargo Logistics, VRL Logistics, Aegis Logistics and Gateway Distriparks slid 5.10 per cent, 1.85 per cent, 6.45 per cent and 1.15 per cent, respectively. Gati slid the most and closed 8.46 per cent down at Rs 151.40.

Chandan Taparia, analyst, Anand Rathi Securities said, “If GST will not clear in the ongoing Winter session then it will delay till 2017.” However, the government has plans to introduce GST from April 2016.

According to Finance Minister Arun Jaitley, the implementation of the GST could augment India’s GDP by 2 per cent. According to market experts, the sectors to benefit the most would be logistics, E-commerce, automobile, and FMCG among others.

  1. K
    KK
    Dec 9, 2015 at 11:10 am
    GST WILL NEVER COME TILL CONGRESS IS IN OPPOSITION. RAHUL HI WILL NEVER ALLOW TO P GST BILL IN RAJYA SABHA.
    Reply

    Go to Top