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Container Corporation Of India Ltd.

BSE: 531344 Sector: Others
NSE: CONCOR ISIN Code: INE111A01025
BSE 00:00 | 26 Apr 493.60 0.55
(0.11%)
OPEN

495.10

HIGH

507.95

LOW

488.75

NSE 00:00 | 26 Apr 493.95 1.75
(0.36%)
OPEN

499.00

HIGH

508.50

LOW

488.65

OPEN 495.10
PREVIOUS CLOSE 493.05
VOLUME 298096
52-Week high 568.80
52-Week low 433.16
P/E 26.05
Mkt Cap.(Rs cr) 30,075
Buy Price 491.05
Buy Qty 100.00
Sell Price 492.95
Sell Qty 160.00
OPEN 495.10
CLOSE 493.05
VOLUME 298096
52-Week high 568.80
52-Week low 433.16
P/E 26.05
Mkt Cap.(Rs cr) 30,075
Buy Price 491.05
Buy Qty 100.00
Sell Price 492.95
Sell Qty 160.00

Container Corporation Of India Ltd. (CONCOR) - Company History

Container Corporation of India Limited which is known by its acronym CONCOR was set up in March of the year 1988 and commenced operation from November of the year 1989 taking over the existing network of 7 Inland Container Depots (ICDs) from the Indian Railways to profitably satisfy the customer's needs for high- quality cost-effective logistics services. From its humble beginning it is now an undisputed market leader having the largest network of 79 ICDs/CFSs in India offering scheduled and on demand rapid rail and road services between the hinterland and ports and between major metros. 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. It has and will continue to play the role of promoting containerization of India by virtue of its modern rail wagon fleet customer friendly commercial practices and extensively used Information Technology. The company developed multimodal logistics support for India's International and Domestic containerization and trade. CONCOR's core business is characterised by three distinct activities that of a carrier a terminal operator and a warehouse operator. CONCOR had been certified to ISO/IEC 27001: 2005 standard for establishing and maintaining Information Security Management System (ISMS) for its IT functionality. CONCOR had commissioned seven container transfer/handling facilities during the year 1990. In addition to three ICDs at Ahmedabad Pune & Hyderabad two full-fledged Container Freight Stations (CFSs) were commissioned at Moradabad and Panipat as cargo consolidation and clearance centres with linkage to the OCD at New Delhi. The Company had commissioned Port Side Container Terminal (PSCT) at Todiarpet in March of the year 1991 situated in the vicinity of Chennai Harbor. A similar terminal was commissioned at Wadi Bunder in close proximity of Mumbai Port in April of the year 1991. In 1992-93 the company achieved the first ever movement of refrigerated cargo containers by rail. CONCOR had introduced this service to give a boost to export frozen and chilled products. CONCOR commissioned Inland Containers Depots at Tughalakabad in Delhi and Whitefield in Bangalore during the year 1993. In addition the first phase of expansion and upgradation of ICD a Tondiarpet in Chennai was commissioned and completed during the same period. During the year 1994 the company made a small footstep as a Multi modal transport operator and also as a consultancy organization for multi-modalism. The Government of India disinvested 20% of its equity shares in the company. A new CFS was commissioned in 1995 at New Mulund (Mumbai) and a new export warehouse of the company also started at ICD Sabarmati. In the same year CONCOR obtained approval from World Bank to increase the quantity of wagons to be procured in the second Tranche from 750 to 1500. Scheduled reefer services between ICD Thughlakabad during the year 1996 and also in the same period the Muboni Port was introduced. The new ICDs were commissioned at Agra in November of the year 1996 linked with ports directly by road ICD Tughlakabad by rail and another ICDs were commissioned at Nagpur in January of the year1997 a rail linked with the twin ports of Mumbai and SNPT. In January of the year 1997 the 'CONTRACK' services were launched by the company offering movement of piecemeal domestic cargo in containers through specialized scheduled and reliable container-rail services. Two new ICDs of the company were commissioned one at Moradabad in February of the year 1998 and the other at Malanpur/Gwalior in June of the year 1998. Second bonded warehouse was commissioned at ICD/Whitefield. The Company had launched a daily service between Chennai port and Whitefield ICD Bangalore in the year 1999. During the year 2000 CONCOR had fashioned a separate domestic division to give a major heighten to the company's growing interest in domestic container movement. The Company had introduced an express parcel service vans between Chennai and Delhi. Private sector warehousing company Continental Warehousing Corporation had entered into a strategic alliance with CONCOR in the identical year 2000 for handling domestic cargo. The Company had launched a fixed-day fixed-time weekly freight service between Shalimar (Howrah) & Mumbai and Shalimar & Ahmedabad with transshipment at Nagpur during the year 2001. CONCOR had introduced Asia's biggest ICD at Dadri in the year 2003. In the same year the company made a tie up with Kolkata Port Trust to provide services to shippers to transport containers using sea rail-mode between Nepal and Kolkata Dock Systems (KDS). During the year 2004 CONCOR inked pact with Transworld to set up CFS at Dadri forged alliance with APL for box freight station at Dadri complex and also inked pact with APEDA for movement of perishable goods. A joint venture for Management and operations of Rail Container Terminal in Birgunj (Nepal) was also finalized in form of M/s Himalayan Terminals and it was commissioned during July of the year 2004. During the year 2004-05 the company had commissioned four Rubber Tyred Gantry Cranes (RTG's) two at ICD/Dadri and other two at ICD/ Dandharikalan (Ludhiana). Gateway Terminal India (Pvt) Ltd a joint venture company of Maersk and the company formed an arm for the construction of 3rd container terminal at JN Port it was commenced construction work during the year 2005-06. CONCOR & GDL had collectively signed agreement during the year 2005 for providing train services to transport EXIM container traffic. The Company had inked a MoU with Baxi Group in the year 2006. During October of the year 2007 CONCOR develop an inland container depot (ICD) at Baddi in Himachal Pradesh to facilitate the exporters of the Baddi-Barotiwala-Nalagarh region. It will help industrialists of the region in saving the freight charges. The Company has diversified into back-end retail in January of the year 2008. The Board of Directors of Container Corporation of India at its meeting held on 30 January 2008 recommended incorporation of a provision for 'Capitalisation of Profits/Reserves' in the Articles of Association and issue of Bonus Shares in the ratio of 1:1 and increase in Authorised Share Capital from Rs 100 crores to Rs 200 Crores subject to the ratification/approval of shareholders and further approval of Govt. of India as may be required. The Board of Directors of the company at its meeting held on 25 July 2013 recommended issue of bonus share to the shareholders of the company in proportion of one new bonus equity shares for every two existing equity shares held by them in the company.On 23 July 2014 Container Corporation of India announced that the Ministry of Heavy Industries and Public Enterprises Department of Public Enterprises Government of India has communicated grant of Navratna status to the company vide its letter dated 23 July 2014.The Board of Directors of the company at its meeting held on 16 December 2015 sanctioned the projects for setting up of two new Multi Modal Logistics Parks (MMLPs) at Tehi in Madhya Pradesh and Barhi in Haryana with the project costs of approximately Rs 174 crore and Rs 346 crore respectively.On 8 January 2016 CONCOR announced that the management has detected a suspected case of misappropriation of the company's funds of an approximate value of Rs 1.24 crore at one of the regional offices of the company. The management has initiated immediate action against the suspected perpetrators and has also taken steps to plug loopholes in the system to prevent any similar leakages in the future. The Board of Directors of CONCOR at its meeting held on 13 February 2017 recommended issue of bonus shares to the shareholders of the company in proportion of one bonus share for every four existing equity shares held by them as on the record date to be fixed separately. On 11 April 2017 CONCOR announced that it has signed a Memorandum of Understanding (MOU) with Container Company of Bangladesh Limited (CCBL) under the Ministry of Railways of the People's Republic of Bangladesh for the introduction of container train services between India and Bangladesh to facilitate International and Domestic trade. CONCOR will also provide Technical Managerial Capacity Building Training and other required support system to CCBL for the development and operations of Container Trains and Inland Container Depots (ICDs).On 13 December 2017 CONCOR signed a Memorandum of Understanding (MOU) with the State Government of Andhra Pradesh for setting up of an Integrated Logistics & Manufacturing Zone (ILMZ) at Machilipatnam. On 19 December 2017 CONCOR announced the signing of a Memorandum of Understanding (MOU) with Port of Singapore Authority PSA (Bharat Mumbai Container Terminals Private Limited - BMCT the fourth terminal at JNPT) to launch dedicated shuttle train running between BMCT and CONCOR's Rail Transshipment Hubs (RTH) at Khatuwas and Jakhwada to consolidate containers railed between BMCT and North and West of India. BMCT will designate the Khatuwas and Jakhwada RTHs as BMCT's inland extended gateways for North and West India whilst CONCOR will ensure competitive rail freight costs and transit times between BMCT and the RTHs in addition to providing competitive pre/on-carriage rail options. CONCOR and BMCT will also provide two further enhancements to the service offering. Firstly Dronagari Rail Terminal will be designated as a Direct Port Delivery point for longer stay import boxes removing traffic from the roads and providing a more effective evacuation option. Secondly BMCT will work in partnership with CONCOR to offer shipping lines domestic repositioning of their empty containers a service currently not available at terminals in JNPT due to lack of capacity. On 22 December 2017 CONCOR announced that it has entered into a Strategic Alliance with Punjab State Warehousing Corporation (PSWC) for PSWC's Container Freight Station (CFS) located at Dhappar District Mohali Punjab. Under this alliance CONCOR will equip manage operate maintain and market the business activities at the CFS. In consideration CONCOR will pay charges to PSWC for usage of their CFS on the terms & conditions agreed upon between the parties.On 30 March 2018 Phase 1 of CONCOR's multi-modal logistics park was commissioned at Varnama Vadodara.The Board of Directors of CONCOR at its meeting held on 30 April 2018 recommended sub-division of one (1) equity share of Rs 10 each into 2 (Two) equity shares of nominal value of Rs 5 each which is subject to the approval of shareholders and such other approvals as may be required.