CONCOR stocks jumps after Government grants ‘Navratna’ status

Container Corporation of India rose 2.14% to Rs 1,333.90 at 10:21 IST on BSE after the company said it was granted Navratna status by Department of Public Enterprises. The company made the announcement after market hours on Wednesday, 23 July 2014.

Meanwhile, the BSE Sensex was down 26.39 points, or 0.10%, to 26,120.94.

On BSE, so far 4,271 shares were traded in the counter, compared with an average volume of 19,423 shares in the past one quarter.

The stock hit a high of Rs 1,350.75 and a low of Rs 1,320.80 so far during the day. The stock hit a 52-week high of Rs 1,409.70 on 8 July 2014. The stock hit a 52-week low of Rs 636.99 on 2 August 2013.

The stock had outperformed the market over the past one month till 23 July 2014, rising 11.46% compared with 4.46% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 35.70% as against Sensex’s 14.30% rise.

The large-cap company has an equity capital of Rs 194.97 crore. Face value per share is Rs 10.

Container Corporation of India’s (Concor) announced that Ministry of Heavy Industries and Public Enterprises, Department of Public Enterprises, Government of India granted Navratna status to the company on 23 July 2014.

Net profit of Concor rose 8.94% to Rs 246.03 crore on 5.30% rise in net sales to Rs 1296.63 crore in Q4 March 2014 over Q4 March 2013.

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, it has also expanded to cover management of ports, air cargo complexes and establishing cold-chain.

The Government of India (GoI) holds 61.80% stake in Concor (as per the shareholding pattern as on 30 June 2014).