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Logistics stocks soar up to 10% as govt all set to ring in GST

LiveMint logoLiveMint 20-06-2017 PTI

New Delhi: Logistics stocks on Tuesday surged up to 10.2% as the much awaited Goods and Services Tax (GST) is set to roll out from mid-night of June 30-July 1.

Shares of Snowman Logistics soared 10.18%, Gati jumped 5.52%, Kesar Terminals & Infrastructure (2.45%), Allcargo Logistics (1.81%), VRL Logistics (1.69%) and Tiger Logistics (1.21%) on BSE.

“Uncertainty regarding GST transition hurdles capped the gains in the domestic indices, but logistic and transport sectors exhibited a sharp surge eyeing the GST roll out approaching fast,” said Anand James, chief market strategist, Geojit Financial Services Ltd.

Reminiscent of India’s tryst with destiny at the mid- night of 15 August 1947, Parliament’s historic Central Hall will host a function on the intervening night of June 30-July 1 to ring in the nation’s biggest tax reform—GST.

Announcing that the switch over to the Goods and Services Tax (GST) will kick in at the stroke of mid-night, finance minister Arun Jaitley said the hour-long function will mirror the contribution made by different political parties and states to the revolutionary new tax regime.

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