Concor extends slide post announcement of weak Q2 result

Container Corporation of India dropped 2.67% to Rs 1,252.95 at 14:20 IST on BSE, with the stock extending previous session's losses triggered by the company reporting weak Q2 results.

Meanwhile, the S&P BSE Sensex was up 46.41 points or 0.18% at 26,345.10.

On BSE, so far 4,413 shares were traded in the counter as against average daily volume of 16,218 shares in the past one quarter. The stock hit a high of Rs 1,300 and a low of Rs 1,247.85 so far during the day. The stock had hit a 52-week high of Rs 1,544 on 3 August 2016. The stock had hit a 52-week low of Rs 1,050.85 on 12 February 2016. The stock outperformed the market over the past one month till 16 November 2016, dropping 4.07% compared with the Sensex's 4.97% fall. The scrip however underperformed the market in past one quarter, declining 8.05% as against the Sensex's 6.29% decline.

The large-cap company has equity capital of Rs 194.97 crore. Face value per share is Rs 10.

Shares of Container Corporation of India dropped 1.36% to Rs 1,287.30 yesterday, 16 November 2016 after company reported 31.87% decline in net profit to Rs 157.84 crore on 8.38% decline in total income to Rs 1454.88 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours on Tuesday, 15 November 2016.

Container Corporation of India (Concor) provides logistics solutions. It has the largest network of inland container depots (ICDs)/container freight stations in India. In addition to providing inland transport by rail for containers, it has also expanded to cover management of ports, air cargo complexes and establishing cold-chain. The Government of India (GoI) holds 56.79% stake in Concor (as per the shareholding pattern as on 30 September 2016).

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