Logistics companies gained 2-3 percent on February 1 after Finance Minister Nirmal Sitharaman said 100 Gati Shakti cargo terminals would be developed over the next three years, as she presented the Budget for the year 2022-23.
Aegis Logistics gained 2.3 percent to Rs 207.10 and Sical Logistics was up 3.4 percent at Rs 16.40, while Shreyas Shipping & Logistics climbed 3.03 percent to Rs 254.95, and Patel Integrated Logistics jumped 3.06 percent to Rs 18.55. Gati gained 1 percent.
Allcargo Logistics rose 3.5 percent to Rs 341.85 and VRL Logistics gained 1.74 percent at Rs 452 on the BSE.
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"Budget has steps to boost transport and logistics and 'Gati Shakti' master plan for expressways will be formulated this financial year," the minister said . "We will expand highways by 25,000 kms in FY23 and railways will develop projects for MSMEs and small farmers."
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She said 100 new cargo terminals would be developed over the next three years and urban transport to connected will be railways.
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"This is positive for logistics sector and it will benefit companies like VRL logistics, Gati," said Yash Gupta- Equity Research Analyst at Angel One.
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