Pre-EoI meeting expected to be held this week
Latest Railways circular also offers details on various terms of the new 'land lease policy' approved by Cabinet last month; existing landholders can extend their lease for up to another 35 years
The new logistics policy aims to trim the costs to single digits, from 13-14 per cent of the GDP at present, by 2030
Stocks to Watch Today: Analysts recommend lack of clarity on the new policy may limit the upside on Concor; Govt to acquire stake in Voda Idea after the stock stabilizes above Rs 10.
Sources also indicated that the current policy was causing a lot of leasable Railways land to go idle, notwithstanding the potential for terminal operations
The positive for the stock is that the new policy lifts the LLF overhang, clearing the way for divestment
CLOSING BELL: Shree Cement, BPCL, Tech M, Axis Bank, M&M, ICICI Bank, Ultratech Cement, Bharti Airtel, Bajaj Finserv, and SBI gained in the range of 2 per cent to 5 per cent
Move likely to pave way for Concor's strategic sale
Tuhin Pandey says LIC investors should be patient and look at the insurer's long-term prospects
Concor's Aggressive capex rollout unlikely, given past record and divestment uncertainty
The cement maker plans to serve its key markets of Chennai, South West Tamil Nadu and Kerala from its Kadapa plant in Andhra Pradesh through this initiative
The company had clocked a net profit of Rs 225.66 crore in the corresponding quarter a year ago
Replying to supplementaries during the Question Hour, Railways Minister Ashwini Vaishnaw said the process of CONCOR disinvestment started during the Congress regime in 1994-95
For Concor, the post privatisation rail land usage policy is yet to be finalised by the Ministry of Railways and hence the EoI could not be issued.
Resolution of the LLF issue remains key for valuations and divestment
Concor has been trading with a corrective bias for the last two months, after making a new record high at Rs 748 levels in June 2021
Most brokerages upgraded the stock on hopes of margin improvement in FY22
State-owned Container Corporation of India Ltd (Concor) on Thursday reported 409.67 per cent surge in consolidated net profit to Rs 251.22 crore for the first quarter ended June 30.
Grasim Industries, India Cements, JK Paper, Mahanagar Gas and Barbeque-Nation Hospitality are among 33 companies slated to post their quarterly numbers today
The centre's plan to privatise CONCOR was stuck due to the non-clearance of the Land Licensing Fee (LLF) policy