Gati, Allcargo and VRL Logistics fall up to 3% ahead of GST Bill discussion

Shares of logistics companies such as Gati, Allcargo Logistics and VRL Logistics on Wednesday fell up to 4 per cent as investors turned cautious ahead of the discussion on the Goods and Services Tax (GST) Bill in the Rajya Sabha.

Gati stock shed 1.57 per cent, Transport Corp of India was down 2.22 per cent, VRL Logistics declined 1.4 per cent, while Allcargo Logistics fell 3.8 per cent on the BSE.

GST is the most far-reaching tax reform in post-independence India, which aims to end the cumbersome regime of multiple taxes on goods and services and bring them under one rate.

Economists at HSBC forecast a boost of 0.8 percentage points to GDP growth from the GST within 3-5 years.