The state-run logistics company's consolidated profit before tax rose to Rs 526 crore ($62.6 million) for three months ending Sept. 30 from Rs 482 crore a year ago
At 02:30 PM; the stock of Concor was trading 6.29 per cent lower at Rs 1,103.25. In comparison, the S&P BSE Sensex was up by 0.39 per cent
Despite the weak Q1 show, the company is confident of meeting its EXIM growth target of 10-12% in FY24 given signs of recovery, and expects to maintain margins at the FY23 level (22.7%)
Stocks to watch on June 15, 2023: Shares of IT companies are likely to be in focus on Thursday after JP Morgan reiterated its negative stance and downgraded the sector to underweight.
Stocks to watch on June 12, 2023: Indiabulls Housing Finance, Indian Energy Exchange (IEX) and India Cements are the three stocks in F&O ban period on Monday.
The meeting is to be chaired by the cabinet secretary
Based on Concor's current market cap of Rs 46,674.9 crore, a 30.8 per cent stake in the company is valued around Rs 14,376 crore
Concor has indicated a double bottomed pattern on the daily chart and seems well placed to rise further, says the technical analyst from Prabhudas Lilladher
Resolution of the LLF issue remains key for valuations and divestment
Most brokerages upgraded the stock on hopes of margin improvement in FY22
State-owned Container Corporation of India (Concor) reported a 409.67 per cent YoY surge in consolidated net profit to Rs 251.22 crore for the first quarter ended June 30
Margins collapse in Q1 due to higher outgo, weak volumes
Rail-related stocks are back in focus after Indian Railway said that India is likely to see its first privately operated train running by April 2023
While valuations are attractive, disruption will keep volumes muted
Pace of DFC roll-out and demand recovery are key triggers
Its total income during the October-December quarter of the current fiscal dipped to Rs 1,610.34 crore, from Rs 1,739.79 crore in the year-ago period.
Trading ideas by Jay Anand Thakkar, CMT -Assistant Vice President - Equity Research, Anand Rathi Shares and Stock Brokers
Container rail traffic is also losing market share to road segment
This year, we are planning to have around 32 rakes
Earnings expected to be upgraded with a sharp improvement in margin and volume