Shares of logistics companies are up sharply, extending previous session's gains, following the GST Council working out a compensation formula for states. The council will debate on rates, taking into consideration the centre's proposal for a tiered rate structure with the rates varying from 4% for commodities like gold to 26% plus cess on sin goods.
Snowman Logistics and GATI are gaining more than 4.5%. Patel Integrated Logistics, Allcargo Logistics and Container Corporation of India are up 2.5% - 3%, and VRL Logistics is gaining 1.5%. Transport Corporation of India, Sical Logistics and Navkar are modestly higher, while Aegis Logistics is hovering around its previous closing price.