Concor gains as board to consider bonus issue

Container Corporation of India rose 1.59% to Rs 1,030 at 13:05 IST on BSE after the company said its board of directors will meet on 12 September 2013, to consider a 1:2 bonus issue.

The announcement was made after market hours on Wednesday, 28 August 2013.

Meanwhile, the S&P BSE Sensex was up 285.25 points or 1.59% at 18,281.40.

On BSE, 1,654 shares were traded in the counter as against average daily volume of 2,657 shares in the past one quarter.

The stock hit a high of Rs 1,060 and a low of Rs 1,022 so far during the day. The stock had hit a 52-week high of Rs 1,230 on 4 June 2013. The stock had hit a 52-week low of Rs 891.10 on 10 December 2012.

The stock had outperformed the market over the past one month till 28 August 2013, sliding 3.42% compared with the Sensex's 8.87% fall. The scrip had also outperformed the market in past one quarter, declining 5.82% as against Sensex's 10.74% fall.

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) net profit rose 0.5% to Rs 246.47 crore on 15.2% growth in net sales to Rs 1194.54 crore in Q1 June 2013 over Q1 June 2012.

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).

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