Bombay Stock Exchange (BSE) benchmark index SENSEX opened on a positive note at the level of 37,327.16 from its previous closing level of 37,165.16. In its early afternoon trading hour, it hits a day high of 37,495.81 and was on the verge to touch the 37,500-mark.
The credit goes to the shares of logistics companies which rallied by up to 8 percent on the BSE on expectations of impressive growth in the current financial year 2018-19.
TCI Express, Patel Integrated Logistics, Allcargo Logistics, Transport Corporation of India, VRL logistics, and Sical Logistics were up in the range of 2% to 8% on the Bombay Stock Exchange (BSE).
The TCI Express hits a fresh 52-week high of Rs 690, increased by 7 percent on the BSE, after the company reported 33 percent YoY growth in net profit at Rs 161 million, on back of strong revenue growth.
According to TCS, the GST, E-Way bills, and the inclusion of logistics has given a definite boost to the organized players in this domain.