Logistics Stocks Gain After Cabinet Clears GST Bill

Logistics companies Gateway Distriparks gained 5.6 per cent, Snowman Logistics rose 7.8 per cent, Gati advanced 6.7 per cent and Container Corp of India was up 3.1 per cent after the Cabinet cleared the GST Bill for nationwide sales tax.

Lower tax rate and fast movement of goods and inventories will help logistics providers, analysts say.

Tax as a percentage of PBT (September quarter): Gateway Distriparks - 34.4; Gati - 30.7; Container Corp of India - 25.1.

Copyright: Thomson Reuters 2014