Traders said the BJP's good performance in the recently-held assembly elections has led to renewed hopes of the Goods and Services Tax (GST) Bill being passed in Rajya Sabha.
The GST - which creates a single national sales tax to replace a matrix of unwieldy and complicated levies by the states and central government - is stuck in Rajya Sabha, where the BJP is in a minority.
Logistics companies will be among the biggest beneficiaries of GST implementation as it will facilitate the seamless movement of goods across the country.
The BJP is set to form government in Assam, while it has also increased its vote share in Tamil Nadu, West Bengal and Kerala.
K.K. Mital, head of portfolio management at Globe Capital Market, said a BJP victory in Assam will be positive for the government, as it will be able to push forward its reform agenda more strongly.
Analysts however noted that the BJP's strong performance in state elections is unlikely to increase its tally in Rajya Sabha.
According to Nomura, the five states that went to polls account for 51 seats in the Upper House, of which six will come up for re-election in 2016 (all in Tamil Nadu), six in 2017 (all in West Bengal) and eight in 2018 (West Bengal and Kerala).
The BJP's victory in Assam will not help, as none of the seats (seven in the Upper House) are up for re-election until 2019, the brokerage said.
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