Festive sales to spark Q3 for Indian logistics firms - Jefferies

Gateway Distriparks

17/11/2023 07:35

** Jefferies says shift of festive season and related
pre-buying should result in strong Q3 for Indian logistics firms
    ** Adds, dedicated freight corridor to drive upside for
Container Corp of India (Concor)  CCRI.NS ; Delhivery  DELH.NS 
to benefit from toned-down estimates 
    ** Jefferies says Concor, Gateway Distriparks  GATW.NS 
passing on haulage hikes "in line with expectations;" positive
margin surprise from vol growth likely to reflect Q4 onwards 
    ** The 10% haulage hike likely weighed on the share of
freight carried by rail in Oct and could impact in Nov, but
improvement likely from Dec - brokerage 
    ** Concor, Delhivery, TCI Express  TCIE.NS  are Jefferies'
top picks
    ** CCRI, GATW, TCIE up 0.2%-1.8%, while DELH down 2.8% as of
12:50 p.m. IST

 (Reporting by Hritam Mukherjee)
 ((Hritam.Mukherjee@thomsonreuters.com;))