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Top logistics firms, including listed entities that have invested thousands of crores to set up and run container freight stations (CFSs) near India’s container ports, face an uncertain future after the Central government introduced a programme to speed up delivery of cargo containers to importers/consignees to check extra cost and time involved in the clearances.
On July 6, 2017 Local Goverment Superannuation Scheme sold 2,053,154 shares of Gateway Distriparks at Rs 279.20 per share on the BSE. However, Morgan Stanley Investment Funds Indian Equity Fund bought 2,053,154 shares at Rs 279.20 per share on the BSE.
The DPD model entails efficient customs clearance of imports at the port itself, thereby obviating the need to divert containerised cargo to CFS, where typically they used to be stored for a couple of days before being cleared by customs and then forwarded by rail or road to the importers premises. Under the DPD model, the cargo is directly moved from the container terminal at the port to the delivery destination.
Close to 80 companies including AB Nuvo, Akzo Nobel, Bajaj Auto, Bank of Baroda, CESC, Coffee Day, DB Corp, EID Parry, Gateway Distriparks, GIPCL, Hindustan Media, IDBI Bank, Jyothy Labs, Karur Vysya Bank, MCF, Muthoot Finance, Pidilite Industries, Rane Engine Valve, Sadbhav Infra, Strides Shasun, Take Solutions, Tanla Solutions, Tata Coffee, Teamlease, Thangamayil, United Bank, VIP Industries and Zylog will announce their Q4 and FY results on Thursday.
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SBI Cap Securities has initiated coverage with a buy rating on Tiger Logistic, saying as revenues growing at 25 percent CAGR over the past 5 years, it foresees the company almost doubling its net profit margin to 4.7 percent by FY19 in a span of 5 years.