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BUZZ-Indian logistic firms gain after sector gets infrastructure status
November 21, 2017 / 4:56 AM / 23 days ago

BUZZ-Indian logistic firms gain after sector gets infrastructure status

** Shares of logistic firms Allcargo Logistics Ltd , TCI Express Ltd and Transport Corp of India Ltd rise as much as between 3.15 pct and 4.1 pct

** The Indian govt granted infrastructure status to the logistics sector to help 'avail infrastructure lending at easier terms with enhanced limits' bit.ly/2AY28ix

** Development of logistics sector would boost domestic and external demand, encourage manufacturing and ‘job creation’ which will in turn improve GDP, the Finance Ministry said in a Twitter post

** Over 0.5 mln Allcargo shares traded, 1.5 times their 30-day moving avg

** TCI Express up 102 pct this year, as of Monday’s close, while Transport Corp rose 95 pct during the same period

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