Aegis Logistics traded on a higher note on the day of budget. The share price that opened at Rs 129.65 from the previous closing of Rs 129.25 went on to make a high of Rs 138.95 (intraday high). The intraday low of the share is Rs 129.05.
Shares of Logistics Companies are mostly steady with notable gains following the Goods and Services Tax Council breaking a deadlock over issues of administrative control over assesses and broadly agreeing to roll out the GST from 1st July 2017.
GST is expected to simplify as well as harmonize the indirect tax regime in the country as it seeks to create a seamless national market in the country by replacing plethora of state taxes and central taxes by just one tax. Consumers, produces along with the Government, all stand to benefit if GST is implemented. As for the logistics firms, implementation of GST means, the removal of inefficiencies in interstate taxation and check posts.
Aegis Group plays a very important role in India’s downstream oil as well as gas sector, and its flagship company, Aegis Logistics is India’s leading oil, gas, and chemical logistics company. Its vision is to be the industry leader in the business segments by delivering superior customer service with a focus on quality, safety, and environmental standards.
The Group has five distinct but related business segments, and it operates a network of bulk liquid handling terminals, liquefied petroleum gas (LPG) terminals, filling plants, pipelines as well as gas stations to deliver products and services. The company’s client base includes many leading industrial companies in India as well as individual retail customers whom it serves at its Aegis Autogas stations.
At 11.45 AM Aegis Logistics share price was seen trading at Rs 134.85, up by 4.33 per cent.
Aegis is one of the Multibagger stocks recommended by Dynamic Levels.
Get the historical share price performance of the share at Aegis Logistics share price history.
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