The purchase price was 0.8% up from Friday’s closing price of Rs 511.20 on the NSE. Its shares today ended the day at Rs 517.75, gaining, 1.3% from the last closing.
Shares of CONCOR have been market laggards and the prices have eroded 18% in the past 12 months. The stock is currently trading below its 50-day and 200-day simple moving averages (SMAs) of Rs 534.6 and Rs 561.1, respectively, according to the data fetched from Trendlyne. It has displayed high volatility with a 1-year beta of 1.3.
CONCOR’s consolidated net profit in the September quarter stood at Rs 379 crore, a 3.6% growth over Rs 365 crore in the year-ago period. The total revenue in the quarter was Rs 2,442 crore, up 1% versus Rs 2,417 crore in the corresponding quarter of the last financial year.
Incorporated in March 1988, Container Corporation commenced operations in November 1989 taking over the existing network of 7 ICDs from Indian Railways. The company claims to be a market leader having the largest network of 66 ICDs/CFSs in India (62 terminals and 4 strategic tie-ups).
In addition to providing inland transport by rail for containers, it has also expanded to cover port management, air cargo complexes and establishing cold-chains.Also Read: Karnataka Bank bulk deal: Cupid CMD Aditya Kumar Halwasiya picks up Rs 71 cr stake in Quant MF-backed lender
(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)