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Shares of logistic companies jump as FM announces setting up cold storage chain

Nirmala Sitharaman added that Nabard will map and geotag the warehouses and cold storages.

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Last Updated: Feb 01, 2020, 11.46 AM IST
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Sitharaman also informed the parliament that financing on negotiable warehousing receipts has crossed Rs 6,000 crore.
Shares of logistic companies surged after the Finance Minister Nirmala Sitharaman on Saturday proposed to build a seamless national cold storage chain.

She added that the National Bank for Agriculture and Rural Development (Nabard) will map and geotag the warehouses and cold storages.

Sitharaman also informed the parliament that financing on negotiable warehousing receipts has crossed Rs 6,000 crore.

Aegis Logistics (up 6.39 per cent), Lancer container (up 5.40 per cent), ABC India (up 4.60 per cent), Kesar Terminals & Infrastructure (up 4.33 per cent), Transport Corporation of India (up 3.73 per cent), Chartered Logistics (up 2.95 per cent), Container Corporation of India (up 1.63 per cent), VRL Logistics (up 1.33 per cent), Allcargo Logistics (up 1.33 per cent) and Blue Dart Express (up 1.01 per cent) were among the top gainers.

Meanwhile, Sanco Trans (down 5.00 per cent), Sical Logistics (down 4.93 per cent), Patel Integrated Logistics (down 4.90 per cent), TCI Express (down 1.44 per cent), Corporate Courier & Cargo (down 1.22 per cent), Apollo Tricoat (down 0.88 per cent), Mahindra Logistic (down 0.49 per cent), Gateway Distriparks (down 0.47 per cent), Future Supply (down 0.47 per cent) and Tiger Logistics (India) Ltd (down 0.36 per cent) were among the top losers.

The NSE Nifty50 index was trading 8.65 points up at 11,970.75, while the 30-share BSE Sensex was up 29 points at 40,752.49 at around 11:30 am.

Maruti Suzuki (up 2.13 per cent), Hindustan Unilever (up 1.88 per cent), Mahindra & Mahindra (up 1.61 per cent), Bajaj Finance (up 1.25 per cent) and UltraTech Cement (up 1.03 per cent) were among the top gainers in the Sensex pack.

On the other hand, NTPC (down 1.6 per cent), Tech Mahindra (down 1.39 per cent), Tata Steel (down 1.28 per cent), Power Grid Corporation of India (down 1.26 per cent) and State Bank of India (down 1.07 per cent) were trading in the red.

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