Concor gains on bargain hunting

Container Corporation of India rose 3.9% to Rs 1,372.85 at 11:49 IST on BSE, with the stock reversing two-day losses on bargain hunting.

Meanwhile, the S&P BSE Sensex was down 109.81 points or 0.43% at 25,507.03.

On BSE, so far 47,000 shares were traded in the counter as against average daily volume of 11,207 shares in the past one quarter.

The stock hit a high of Rs 1,386.50 and a low of Rs 1,301.05 so far during the day. The stock had hit a record high of Rs 1,944 on 1 June 2015. The stock had hit a 52-week low of Rs 1,204.40 on 17 December 2014.

The stock had underperformed the market over the past one month till 28 September 2015, sliding 7.79% compared with Sensex's 2.94% fall. The scrip had also underperformed the market in past one quarter, declining 20.85% as against Sensex's 7.89% fall.

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 (Concor) had declined 5.87% in the preceding two trading sessions to settle at Rs 1,321.30 yesterday, 28 September 2015, from a recent high of Rs 1,403.80 on 23 September 2015.

Concor's net profit declined 21% to Rs 206.90 crore on 11.9% growth in net sales to Rs 1420.85 crore in Q1 June 2015 over Q1 June 2014.

Concor provides logistics solution. 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 61.79% stake in Concor (as per the shareholding pattern as on 30 June 2015).

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