Concor jumps on bonus issue plan

Container Corporation of India jumped 5.81% to Rs 1,154.50 at 9:54 IST on BSE after the company said its board will meet on 25 July 2013 to consider a proposal of issuing bonus shares to shareholders.

The company made the announcement after market hours on 18 July 2013.

Meanwhile, the S&P BSE Sensex was up 89.17 points, or 0.44%, to 20,217.58.

On BSE, 1,870 shares were traded in the counter as against an average daily volume of 5,760 shares in the past one quarter.

The stock hit a high of Rs 1,160 and a low of Rs 1,139 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 888 on 27 July 2012.

The stock had underperformed the market over the past one month till 18 July 2013, rising 0.89% compared with the Sensex's 4.71% rise. The scrip had outperformed the market in past one quarter, rising 1.23% as against Sensex's 5.85% rise.

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

Container Corporation of India's (Concor) net profit declined 0.5% to Rs 225.84 crore on 15% growth in net sales to Rs 1231.39 crore in Q4 March 2013 over Q4 March 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 63.09% stake in Concor (as on 30 June 2013).

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