Shares of logistics companies advanced after the Union Finance Minister Nirmala Sitharaman announced plans to set up 100 cargo terminals in the coming years.
Allcargo Logistics (up 3.48%), Aegis Logistics (up 2.52%), VRL Logistics (up 1.74%) and Snowman Logistics (up 1.39%) edged higher.
"100 Cargo Terminals under PM Gati Shakti will be developed in the next few years, the Finance Minister said.
Finance Minister Nirmala Sitharaman is currently presenting the Union Budget for the Financial Year 2022-23 in the Lok Sabha. The copy of the Budget will be laid on the Table of the Rajya Sabha soon thereafter.
This is the fourth budget to be presented by Finance Minister Nirmala Sitharaman in Parliament. For the Budget-2022-23, the Finance Minister had held several pre-budget consultation meetings with stakeholder groups including economists, agriculture and agro processing industry, trade union and labour organizations, financial sector and capital markets, industry, services and trade, social sector, infrastructure and climate change sector. Sitharaman had also held pre-budget consultation with finance ministers of states and union territories for the budget.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU