India's logistics firms rise on hopes of demand revival

Aegis Logistics

17/02/2023 09:01

** Shares of logistics companies Aegis Logistics  AEGS.NS ,
Allcargo Logistics  ACLL.NS , VRL Logistics  VRLL.NS  and
Transport Corporation  TCIL.NS  gained between 1.9% and 4.3% in
a weak market marked by a 0.63% fall in Nifty 50  .NSEI  
    ** While December quarter was challenging for the sector due
to weaker-than-expected e-commerce volumes in festive season,
margin improvement is likely for several firms due to demand
uptick and easing costs, according to ICICI Securities
    ** Motilal Oswal expects rise in demand and improvement in
consumer sentiment due to decline in commodity costs; adds core
profit margins to improve gradually
    ** A report by real estate consultancy firm Knight Frank, on
Thursday, said Mumbai, Bengaluru, Delhi-NCR featured among top
10 markets in the Asia Pacific region in terms of warehousing
rent growth in FY2022
    ** Growth in manufacturing and third-party logistics sectors
aided the rise in rentals in 2022 and growth in these sectors
should sustain in 2023 as well, said Shishir Baijal of Knight
Frank India
 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; Mobile:
+919769003463))