Union Budget 2020 reaction - Mr. Yogesh Patel, Chief Finance Officer, Mahindra Logistics Ltd

"The Union budget for 2020-21 has focused on agriculture, infrastructure and economic activities. The Government providing viability gap funding for PPP-based warehousing at block and district level will add to the boost for the logistics sector and attract global investors and developers. It also places a strong emphasis on infrastructure building by faster connectivity via roads and railways with an investment of Rs 1.7 lakh crore for transport infrastructure. The government's firm move on National Logistics Policy will further have a positive impact on nation's logistics industry as it will help to increase the warehousing capacity, and identifying gaps that could be bridged to bring down the cost of logistics for traders. Additionally, the proposal of National Bank for Agriculture and Rural Development (Nabard) mapping and geotaging the warehouses and cold storages will initiate making a seamless cold storage chain available across the country. We are confident that this policy will further enhance India's ability to trade globally."

Shares of Mahindra Logistics Ltd was last trading in BSE at Rs.409 as compared to the previous close of Rs. 425.35. The total number of shares traded during the day was 2866 in over 292 trades.

The stock hit an intraday high of Rs. 425.85 and intraday low of 409. The net turnover during the day was Rs. 1195540.

Source : Equity Bulls

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