Shares of direct-to-home (DTH) as well logistics companies gained on Friday on rising optimism over the tabling of GST Bill in the Rajya Sabha next week.
Shares of direct-to-home (DTH) as well logistics companies gained on Friday on rising optimism over the tabling of GST Bill in the Rajya Sabha next week. The government on Wednesday had already cleared changes in the GST Constitutional Amendment Bill, slashing 1 per cent manufacturing tax and providing guarantee to compensate states for any revenue loss in the first five years of rollout of the proposed indirect tax regime.
Logistics companies such as VRL Logistics and Allcargo Logistics gained as much as 2.8 per cent and 5.67 per cent in the morning trade. Other logistics majors such as Aegis Logistics, Transport Corporation of India and Gati gained 1.1 per cent, 2.5 per cent and 2.67 per cent, intraday.
DTH providers such as Dish TV and Siti Cable Network were trading 3.83 per cent and 0.54 per cent up at Rs 97.50 and Rs 37.45, respectively (at Rs 11.54 am). However, benchmark index BSE Sensex was trading 83.64 points down at 28,124.98.
Jawahar Goel, chairman and managing director, Dish TV in a release said, “We continue to be optimistic about margin expansion and ease of doing business that should result from the implementation of GST.”
Pankaj Sharma, head of equities, Equirus Securities said, “If the GST bill goes through, it will be an important sentiment boost for the markets.”
Karthik Rangappa, vice president, education service, Zerodha said, “Goods and Services Tax Bill will have a positive impact on overall economy. Many companies across various sectors will be benefit with the passage of GST. For investors, I believe KDDL, Jyothy Labs and Amara Raja Batteries could be good buys if GST gets passed.”