Concor drops as Q1 numbers disappoint

Container Corporation of India lost 3.02% to Rs 1,039.80 at 11:16 IST on BSE after net profit rose 0.55% to Rs 246.47 crore on 14.77% growth in total income to Rs 1284.51 crore in Q1 June 2013 over Q1 June 2012.

The Q1 result was announced after market hours on Thursday, 25 July 2013.

Meanwhile, the S&P BSE Sensex was up 29.51 points or 0.15% at 19,834.27.

On BSE, 960 shares were traded in the counter as against average daily volume of 6,491 shares in the past one quarter.

The stock was volatile. The stock lost as much as 4.91% at the day's low of Rs 1,019.45 so far during the day. The stock rose as much as 1.19% at the day's high of Rs 1,085 so far during the day. The stock had hit a 52-week low of Rs 888 on 27 July 2012. The stock had hit a 52-week high of Rs 1,230 on 4 June 2013.

The stock had underperformed the market over the past one month till 25 July 2013, falling 1.47% compared with the Sensex's 6.31% surge. The scrip had also underperformed the market in past one quarter, sliding 3.11% as against Sensex's 2.05% rise.

The large-cap company has equity capital of Rs 129.98 crore. Face value per share is Rs 10.

Container Corporation of India's (Concor) board of directors at a meeting held on Thursday, 25 July 2013, recommended issue of bonus shares to the shareholders of the company in proportion of one new bonus share for every two existing equity shares held by them.

Concor provides logistics solution. It has the largest network of 62 inland container depots (ICDs)/container freight stations in India. In addition to providing inland transport by rail for containers, the company has also expanded to cover management of ports, air cargo complexes and establishing cold-chain. The Government of India (GoI) holds 63.08% stake in Concor (as per the shareholding pattern as on 30 June 2013).

Powered by Capital Market - Live News