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Surya Industrial Corporation to hold AGM

Surya Industrial Corporation to hold AGM

Sep 14,2016

Surya Industrial Corporation announced that the Annual General Meeting (AGM) of the company will be held on 30 September 2016.

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Kirloskar Industries standalone net profit declines 7.91% in the June 2017 quarter
Jul 26,2017

Net profit of Kirloskar Industries declined 7.91% to Rs 5.47 crore in the quarter ended June 2017 as against Rs 5.94 crore during the previous quarter ended June 2016. Sales declined 67.36% to Rs 0.47 crore in the quarter ended June 2017 as against Rs 1.44 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales0.471.44 -67 OPM %-329.79-57.64 - PBDT7.908.21 -4 PBT7.657.99 -4 NP5.475.94 -8

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Hero MotoCorp standalone net profit rises 3.50% in the June 2017 quarter
Jul 26,2017

Net profit of Hero MotoCorp rose 3.50% to Rs 914.04 crore in the quarter ended June 2017 as against Rs 883.09 crore during the previous quarter ended June 2016. Sales rose 7.74% to Rs 7971.58 crore in the quarter ended June 2017 as against Rs 7398.91 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales7971.587398.91 8 OPM %16.2616.63 - PBDT1426.031348.95 6 PBT1293.081233.71 5 NP914.04883.09 4

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New Post Offices will be opened in this fiscal-Manoj Sinha
Jul 26,2017

The Government has planned to open 81 Sub-Post Offices and 100 Branch Post Offices during the current financial year 2017-18 under the Scheme - n++Rural Business & Access to Postal Networkn++. Minister of Communications Shri Manoj Sinha said that the Department of Posts has also planned to open 66 Branch Post Offices by creation of new posts in 32 worst affected Left Wing Extremism (LWE) districts in the country under the aforesaid scheme in the current financial year.

Shri Sinha said that out of 25,350 post offices in the States of the Country, 25,348 are computerised. He said that the Department of Posts takes action, from time to time, to induct technology and upgrade the system to cater to the growing market requirements and to increase revenue earnings. The Minister said that the increase or revision of rates of postal products and services is an ongoing exercise carried out from time to time and that there is no proposal to increase the rates of premium Business Development products at present.

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Yes Bank vaults after good Q1 result, stock-split plan
Jul 26,2017

The result was announced during market hours today, 26 July 2017.

Meanwhile, the S&P BSE Sensex was up 157.57 points or 0.49% at 32,385.84

On the BSE, 7.96 lakh shares were traded on the counter so far as against the average daily volumes of 2.37 lakh shares in the past one quarter.

The stock hit a high of Rs 1,722.80 in intraday trade so far, which is 52-week high for the counter. The stock hit a low of Rs 1,606.30 so far during the day. The stock had hit a 52-week low of Rs 1,091.25 on 26 December 2016.

The large-cap bank has equity capital of Rs 457.64 crore. Face value per share is Rs 10.

Yes Bank banks board at its meeting held today, 26 July 2017 approved a 5-for-1 stock split of equity shares.

Yes Banks gross non-performing assets (NPAs) stood at Rs 1364.38 crore as on 30 June 2017 as against Rs 2018.56 crore as on 31 March 2017 and Rs 844.56 crore as on 30 June 2016.

The ratio of gross NPAs to gross advances stood at 0.97% as on 30 June 2017 as against 1.52% as on 31 March 2017 and 0.79% as on 30 June 2016. The ratio of net NPAs to net advances stood at 0.39% as on 30 June 2017 as against 0.81% as on 31 March 2017 and 0.29% as on 30 June 2016.

The banks Net Interest Income (NII) grew by 44% to Rs 1808.90 crore in Q1 June 2017 over Q1 June 2016. Net interest margin expanded to 3.7% in Q1 June 2017 from 3.6% in Q1 June 2016.

Commenting on the results and financial performance, Rana Kapoor, Managing Director & CEO, Yes Bank said that the bank continues to garner market share in its various corporate and MSME businesses while maintaining superior asset quality parameters.

Yes Bank is one of the leading private sector banks in India. The banks branch network stood at 1,020 branches and ATM network stood at 1,796 as on 30 June 2017.

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L T Foods gets revision in credit ratings
Jul 26,2017

L T Foods announced that CRISIL has upgraded the existing Long Term Rating of LT Foods from CRISIL BBB+ (STABLE) to CRISIL BBB+ (POSITIVE) and has reaffirmed the existing Short Term Rating of CRISIL A2 .

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Board of Yes Bank approves sub-division of shares
Jul 26,2017

Yes Bank announced that the Board of Directors meeting held on 26 July 2017 have approved the following -

1. Sub-division of existing 1 (one) Equity Share of face value of Rs. 10/- each fully paid up into 5 (five) Equity Shares of Rs. 2/- each fully paid up, subject to approval of Reserve Bank of India and Shareholders or any other applicable statutory and regulatory approvals.

2. Consequential alteration to the Capital Clause of Memorandum of Association.

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REC slips after bulk deal
Jul 26,2017

Meanwhile, the S&P BSE Sensex was up 156.30 points, or 0.48% to 32,384.57

Bulk deal boosted volume on the scrip. On the BSE, 82.51 lakh shares were traded in the counter so far, compared with average daily volumes of 6.06 lakh shares in the past one quarter. The stock had hit a high of Rs 179.60 and a low of Rs 175.60 so far during the day. The stock hit a 52-week high of Rs 223.80 on 9 May 2017. The stock hit a 52-week low of Rs 99.45 on 22 July 2016.

The stock rose 0.97% over the past one month till 25 July 2017, underperforming the Sensexs 3.5% rise. The scrip had also underperformed the market in past one quarter, declining 13.12% as against Sensexs 7.63% rise. The scrip, however, outperformed the market in past one year, surging 66.64% as against Sensexs 14.71% rise.

The large-cap company has equity capital of Rs 1974.92 crore. Face value per share is Rs 10.

Rural Electrification Corporations (REC) net profit rose 13.72% to Rs 1319.23 crore on 1.73% decline in total income to Rs 5979.33 crore in Q4 March 2017 over Q4 March 2016.

REC, a Navratna Central Public Sector Enterprise under Ministry of Power, provides financial assistance to state electricity boards, state government departments and rural electric co-operatives for rural electrification projects. The Government of India holds 58.86% stake in the company, as per the shareholding pattern as at 30 June 2017.

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HDFC edges lower after posting weak Q1 results
Jul 26,2017

The company announced its Q1 results during market hours today, 26 July 2017.

Meanwhile, the S&P BSE Sensex was up 129.42 points or 0.4% at 32,357.69.

High volumes were witnessed on the counter. On the BSE, 5.12 lakh shares were traded on the counter so far as against the average daily volumes of 3.38 lakh shares in the past one quarter. The stock had hit a high of Rs 1,645 and a low of Rs 1,620.65 so far during the day. The stock had hit a 52-week high of Rs 1,680.50 on 13 June 2017. The stock had hit a 52-week low of Rs 1,185 on 5 December 2016.

The stock declined 1.12% over the past one month till 25 July 2017, underperforming the Sensexs 3.5% rise. The scrip had also underperformed the market in past one quarter, rising 5.42% as against Sensexs 7.63% rise. The scrip had, however, outperformed the market in past one year, rising 18.28% as against Sensexs 14.71% rise.

The large-cap company has equity capital of Rs 318.58 crore. Face value per share is Rs 2.

HDFCs board of directors approved issue of secured, redeemable, non convertible debentures aggregating Rs 35000 crore on private placement basis.

HDFC is Indias first retail housing finance company and is currently one of the largest originators of housing loans in the country.

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GE T&D India leads gainers in A group
Jul 26,2017

GE T&D India jumped 16.57% to Rs 381.70 at 14:35 IST. The stock topped the gainers in the BSEs A group. On the BSE, 3.91 lakh shares were traded on the counter so far as against the average daily volumes of 11,000 shares in the past two weeks.

Jaiprakash Associates surged 8.74% to Rs 29.25. The stock was the second biggest gainer in A group. On the BSE, 2.37 crore shares were traded on the counter so far as against the average daily volumes of 1.54 crore shares in the past two weeks.

Sun Pharma Advanced Research Company gained 8.13% at Rs 354.60. The stock was the third biggest gainer in A group. On the BSE, 3.38 lakh shares were traded on the counter so far as against the average daily volumes of 66,000 shares in the past two weeks.

Jindal Steel & Power advanced 7.76% at Rs 150.70. The stock was the fourth biggest gainer in A group. On the BSE, 25.04 lakh shares were traded on the counter so far as against the average daily volumes of 11.16 lakh shares in the past two weeks.

Hindustan Copper rose 6.74% to Rs 70.50. The stock was the fifth biggest gainer in A group. On the BSE, 7.14 lakh shares were traded on the counter so far as against the average daily volumes of 84,000 shares in the past two weeks.

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The index of mineral production of mining and quarrying sector at 0.9% in May 2017 lower than in May 2016
Jul 26,2017

Mineral Production during May 2017 (Provisional) The index of mineral production of mining and quarrying sector for the month of May (new Series 2011-12=100) 2017 at 100.5, was 0.9% lower as compared to the level in the month of May 2016.

The total value of mineral production (excluding atomic & minor minerals) in the country during May 2017 was Rs. 19944 crore. The contribution of Coal was the highest at Rs. 7171 crore (36%). Next in the order of importance were: Petroleum (crude) Rs. 5634 crore, Iron ore Rs. 2551 crore, Natural gas (utilized) Rs. 2235 crore, Limestone Rs. 602 crore and Lignite Rs. 470 crore. These six minerals together contributed about 94% of the total value of mineral production in May 2017.

Production level of important minerals in May 2017 were: Coal 505 lakh tonnes, Lignite 30 lakh tonnes, Natural gas (utilized) 2701 million cu. m., Petroleum (crude) 31 lakh tonnes, Bauxite 1973 thousand tonnes, Chromite 254 thousand tonnes, Copper conc. 11 thousand tonnes, Gold 117 kg., Iron ore 160 lakh tonnes, Lead conc. 26 thousand tonnes, Manganese ore 237 thousand tonnes, Zinc conc. 123 thousand tonnes, Apatite & Phosphorite 50 thousand tonnes, Limestone 282 lakh tonnes, Magnesite 20 thousand tonnes and Diamond 1648 carat.

The production of important minerals showing positive growth during May 2017 over May 2016 include: Zinc conc. (96.9%), Copper conc. (52.0%), Lead conc. (47.4%), Gold (25.8%), Manganese ore (19.6%), Limestone (5.6%), Natural gas (utilized) (5.2%), Petroleum (crude) (0.7%) and Chromite (0.6%). The production of other important minerals showing negative growth are: Diamond [(-) 47.4%], Magnesite [(-) 31.8%], Bauxite [(-) 22.4%], Apatite & Phosphorite [(-) 10.4%], Lignite [(-) 6.3%], Iron ore [(-) 4.5%] and Coal [(-) 3.2%].

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GE T&D India hits the roof after turnaround Q1 result
Jul 26,2017

The result was announced after market hours yesterday, 25 July 2017.

Meanwhile, the S&P BSE Sensex was up 111.51 points, or 0.35% at 32,339.78. The S&P BSE Mid-Cap index was up 32.20 points, or 0.21% at 15,344.80.

On the BSE, 3.55 lakh shares were traded on the counter so far as against the average daily volumes of 36,686 shares in the past one quarter. The stock opened with an upward gap, and soon surged by the maximum 20% daily circuit and remained locked at the 20% level at Rs 392.90 so far in the day, also its 52-week high. The stock had hit a low of Rs 350 so far during the day. The stock had hit a 52-week low of Rs 277.05 on 7 March 2017.

The stock dropped 4.27% over the past one month till 25 July 2017, underperforming the Sensexs 3.5% rise. The scrip had also underperformed the market in past one quarter, declining 4.14% as against Sensexs 7.63% rise. The scrip also underperformed the market in past one year, falling 8.32% as against Sensexs 14.71% rise.

The mid-cap company has equity capital of Rs 51.21 crore. Face value per share is Rs 2.

GE T&D Indias total income rose 41.06% to Rs 1251.46 crore in Q1 June 2017 over Q1 June 2016. Operating profit stood at Rs 130 crore in Q1 June 2017 as against operating loss of Rs 170 crore in Q1 June 2016. New order bookings jumped 99% to Rs 1580 crore in Q1 June 2017 over Q1 June 2016.

Sunil Wadhwa, Managing Director of GE T&D India said that the company is well positioned with an order backlog of over Rs 8420 crore as of 30 June 2017.

GE T&D India is a leading player in the power transmission & distribution business with a product portfolio ranging from medium voltage to ultra high voltage (1200 kV) for power generation, utility, industry and infrastructure markets.

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Moodys affirms the ratings of seven and downgrades the ratings of two Indian public sector banks
Jul 26,2017

Moodys Investors Service has affirmed the local and foreign currency bank deposit ratings of seven Indian public sector banks (PSBs) at Baa3/Prime-3 The affected banks are: (1) Bank of Baroda (BOB), (2) Bank of India (BOI), (3) Canara Bank (Canara), (4) Oriental Bank of Commerce (OBC), (5) Punjab National Bank (PNB), (6) Syndicate Bank (Syndicate) and (7) Union Bank of India (Union Bank). The counterparty risk assessment (CRA) of these banks affirmed at Baa3(cr)/P-3(cr).

Moodys also downgraded the long term local and foreign currency bank deposit ratings of Indian Overseas Bank (IOB) and Central Bank of India (CBI) to Ba3 from Ba1. In addition, Moodys downgraded IOB and Indian Overseas Bank, Hong Kong Branchs senior unsecured medium-term note (MTN) program rating to (P)Ba3 from (P)Ba1 and IOBs Hong Kong branchs senior unsecured debt rating to Ba3 from Ba1. The long term CRA of these banks has also been downgraded to Ba2(cr) from Ba1(cr).

Moodys also downgraded the standalone credit profile or the baseline credit assessment (BCA) of Syndicate to ba3 from ba2, and as a result, downgraded the subordinated MTN and junior subordinated MTN program ratings of the bank to (P)Ba3 and (P)B1 from (P)Ba2 and (P)Ba3, respectively.

Moodys changed the outlook to stable from positive for BOB and its London branch, Canara and its London branch, PNB, and Syndicate and its London branch, changed the outlook to negative from positive for BOI and its London branch and Jersey branch, OBC, and Union Bank and its Hong Kong branch, and changed the outlook to stable from negative for IOB and its Hong Kong branch. Outlook for CBI was maintained at stable.

The list of affected ratings is provided at the end of this press release.

The ratings of State Bank of India (SBI, Baa3 positive, ba1) and IDBI Bank Ltd (IDBI, Ba2 ratings under review, caa1) are not affected by this rating action.

RATINGS RATIONALE

Moderation In The Level Of Government Support Factored Into Banks Ratings

Moodys uses the joint default analysis (JDA) model to determine government support for banks. Under JDA, Moodys places each bank in a support bucket, which can be very high, high, moderate, or low. As a function of a governments sovereign credit rating and a banks designated support bucket, JDA provides a range of potential notches of support.

Until this rating action, Moodys support assumptions were generally at the maximum of the very high support bucket range. With this rating action, Moodys has repositioned the support assumption towards the mid-point of the very high support bucket range. This means that typically the maximum rating uplift above the BCA is three notches.

Indian PSBs have experienced significant asset quality problems and capital shortages over the last three years. In 2015, the government announced its Indradhanush plan to address its own estimate of INR 1,800 billion shortfall in capital that PSBs would need between 2015 to 2019 to meet Basel III requirements. Under this plan, the government would allocate INR700billion for capital injections to public sector banks over the financial years ending in March 2016 to March 2019, with the expectation that banks could access the equity capital market for additional capital.

Despite receiving INR 500 billion in capital injections under the Indradhanush plan, PSBs remain undercapitalized and burdened by bad debts. The Indradhanush plan will only provide INR200bn of additional capital in the two financial years up to March 2019, which falls short of the amount still required for banks to address solvency challenges and recapitalize themselves. The government has not increased its planned capital injections, although most public sector banks have not been able to raise the required capital from the equity capital markets.

Other policies seem to indicate a gradual shift in approach. The introduction of the Financial Resolution and Deposit Insurance Bill, 2017, indicates the governments preference to introduce more market discipline in the resolution of financial institutions. A stated intention of the resolution framework is to limit the use of public money to bail out distressed entities.

These actions suggest that the extent of support that the government would provide to some banks is likely lower than what we had previously assumed. As a result, banks benefiting from the very highest levels of support are likely to see less support over time.

Nevertheless, Moodys continues to position the rated public sector banks in the very high support bucket, reflecting the systemic importance of public sector banks in India. The government owns a majority stake in these banks and is visibly involved in their management, including appointment of senior managers and setting of key performance indicators. In addition, the viability of public sector banks is crucial for maintaining overall systemic stability, given that these banks cumulatively account for around 74% of the banking system assets.

STABLE BUT WEAK BCAs; NEGATIVE PRESSURE FOR SOME BANKs

Moodys expect asset quality to remain the key credit weakness for the rated PSBs. Net non-performing loan (NPL) formation rates, while moderating compared to the levels seen in the last two years, will remain elevated on an absolute basis.

At the same time, the need to improve loan loss provisioning levels will require banks to maintain a high level of credit costs, leading to low profitability over the next 12-18 months.

Capital levels will remain weak for most rated PSBs over the next 12-18 months, as low profitability impinges on their ability to build capital levels through retained earnings. We expect the government to remain the key source of external capital for these banks.

Nevertheless, because their current BCAs incorporate considerations for solvency weakness described above, Moodys has affirmed the BCAs for eight banks. Despite weaker asset quality and capital metrics, the BCAs of rated public sector banks benefit from sound funding and liquidity metrics, with the liquidity coverage ratio (LCR) of all rated public sector banks at or above 100%.

At the same time, the BCAs of three banks remain weak and could face further downward pressure. The position of the BCAs at the top of the range indicates potential for a further deterioration to lead to a downward BCA adjustment. At the same time, Moodys has downgraded the BCA of Syndicate to ba3 from ba2.

DISCUSSIONS ON INDIVIDUAL BANK RATING ACTIONS

Bank of Baroda and Bank of Baroda (London)

Moodys has affirmed BOBs local and foreign currency bank deposit ratings at Baa3/Prime-3. Moodys has also affirmed Bank of Baroda (London) s senior unsecured debt and senior unsecured medium-term note (MTN) program ratings at Baa3 and (P)Baa3. At the same time, Moodys has affirmed the banks BCA and Adjusted BCA at ba2. Moodys has also affirmed the CRA of Baa3(cr)/Prime-3(cr) for both the bank and London Branch. The outlook, where applicable, has been revised to stable from positive.

The affirmation of BOBs BCA and ratings reflects our expectation that the financial profile will broadly remain stable over the next 12-18 months. Asset quality has largely stabilized and new NPL formation has moderated in the financial year ended March 2017 (FY 2017). New NPL formation has meaningfully declined in FY 2017 and we expect further improvements in the next financial year. BOBs capitalization profile is also somewhat stronger than that of its peers and we expect the bank may be able to raise external capital from the equity capital market if its financial profile stabilizes further. In addition, we expect improvement in the profitability profile as credit costs will gradually come down given the relatively stronger loan loss coverage and our expectation of a stable asset quality. We expect funding and liquid profile to remain stable and support the overall financial profile.

The outlook on the banks rati

NTPC forges ahead on fund raising plan
Jul 26,2017

The announcement was made during market hours today, 26 July 2017.

Meanwhile, the S&P BSE Sensex was up 103.86 points or 0.32% at 32,332.13.

On the BSE, 4.58 lakh shares were traded on the counter so far as against the average daily volumes of 5.6 lakh shares in the past one quarter. The stock had hit a high of Rs 165.60 and a low of Rs 164 so far during the day.

The stock had hit a 52-week high of Rs 177.80 on 27 January 2017 and a 52-week low of Rs 143.45 on 13 October 2016.

The stock gained 3.9% over the past one month till 25 July 2017, outperforming the Sensexs 3.5% rise. The scrip had, however, underperformed the market in past one quarter, falling 1.03% as against Sensexs 7.63% rise. The scrip had also underperformed the market in past one year, rising 4.36% as against Sensexs 14.71% rise.

The large-cap company has equity capital of Rs 8245.46 crore. Face value per share is Rs 10.

NTPC said that the board of directors of the company in a meet on 29 July 2017, shall consider and approve issue of secured/unsecured, redeemable, taxable/tax-free, cumulative/non-cumulative, non-convertible debentures upto Rs 15000 crore during the period commencing from the date of passing of special resolution in the ensuing Annual General Meeting till completion of one year thereof or the date of next Annual General Meeting in the financial year 2018-19 whichever is earlier.

The company will also announce its Q1 results on 29 July 2017. NTPCs net profit declined 25.5% to Rs 2079.40 crore on 11.4% rise in net sales to Rs 20416.67 crore in Q4 March 2017 over Q4 March 2016.

NTPC, Indias largest power company, has presence in the entire value chain of power generation business. The government of India held 69.75% stake in the firm as on 30 June 2017, as per the shareholding pattern.

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National Fertilizers slumps after fixing OFS floor price at discount
Jul 26,2017

The announcement was made after market hours yesterday, 25 July 2017.

Meanwhile, the S&P BSE Sensex was up 124.52 points, or 0.39% to 32,352.79. The S&P BSE Mid-Cap index was up 21.88 points, or 0.14% to 15,334.48.

High volumes were witnessed on the counter. On the BSE, 3.79 lakh shares were traded in the counter so far, compared with average daily volumes of 1.65 lakh shares in the past one quarter. The stock had hit a high of Rs 74.35 and a low of Rs 73.35 so far during the day. The stock had hit a 52-week high of Rs 89.50 on 11 May 2017. The stock had hit a 52-week low of Rs 29.65 on 22 November 2016.

The stock gained 8.98% over the past one month till 25 July 2017, outperforming the Sensexs 3.5% rise. The scrip had, however, underperformed the market in past one quarter, rising 0.57% as against Sensexs 7.63% rise. The scrip had, however, outperformed the market in past one year, surging 123.37% as against Sensexs 14.71% rise.

The mid-cap company has equity capital of Rs 490.58 crore. Face value per share is Rs 10.

The President of India, acting through and represented by the Ministry of Chemicals & Fertilizers, Government of India, promoter of National Fertilizers has offered to sell up to 7.35 crore equity shares of the company of face value of Rs 10 each, representing 15% of the total paid up equity share capital of the company.

The offer for sale will be open for subscription on 26 July 2017 for non-retail investors and on 27 July 2017 for retail investors and for non-retail investors who choose to carry forward their bids, through a separate, designated window of the stock exchanges.

The floor price for the offer shall be Rs 72.80 per share, company said.

The government of India held 89.71% stake in the firm as per the shareholding pattern as on 30 June 2017.

National Fertilizers is the second largest producer of urea in the country and largest urea producer amongst public sector urea producing companies. The company is engaged in producing and marketing of neem coated urea, bio-fertilizers (solid & liquid) and other allied industrial products like ammonia, nitric acid, ammonium nitrate, sodium nitrite and sodium nitrate.

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The unified tax regime has obviated the need for inter state check posts
Jul 26,2017

The transport sector stands to benefit from the recently rolled out GST in several ways. Pre- GST, the complex tax structure and paper work forced the transport industry to spend a lot of resources on tax compliance and deposit of interstate sales tax. Monitoring and collection of sales tax at interstate check posts led to major traffic congestion at these points, resulting in slower movement of freight and passenger, and consequently higher costs and pollution. An average Indian truck covers only about 50,000-60,000 km a year as against 3 lakh km done by a truck in US.

The unified tax regime has obviated the need for inter state check posts. This will result in reducing the travel time of long-haul trucks and other cargo vehicles by at least one-fifth. This, coupled with the proposed E-way bill that will require online registration for movement of goods worth more than Rs 50,000, will ease the movement of freight further, and bring in more transparency in the whole process. Efficient freight movement will also boost the demand for high tonnage trucks, which will in turn reduce the cost of transportation of freight.

A single GST also means an optimized warehousing structure. Earlier, companies had to maintain warehouses in every state due to different taxation slabs. GST does away with the need to have a separate warehouse for every state. This means a leaner and smarter logistics chain. This will also encourage more investment in the warehousing business.

Pre- GST, the statutory tax rate for most goods worked out to about 26.5%. Post GST most goods are expected to be in the 18 % tax range . India currently has very high logistics cost - about 14% of the total value of goods as against 6-8% in other major countries. GST will serve to bring down the logistics cost to about 10-12 % by facilitating efficient inter-state flow of goods and accelerating the demand for logistics services.

According to Shri Nitin Gadkari, the Minister for Road Transport & Highways and Shipping, Indias logistics sector would gain the most from the Goods and Services tax as costs would fall by almost 20%. He has also said that logistics parks are being set up at various places across the country to act as freight aggregation and distribution hubs. These logistics parks will enable long haul freight movement between hubs on larger sized trucks, rail and waterways. This will not only reduce freight transportation costs, but also throw open many employment opportunities and reduce pollution levels.

The Ministry of Road Transport and Highways has prepared a booklet on the benefits of GST for the transport sector.

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