Share price of this Navratna stock moved up by nearly 1.57 percent on NSE to Rs. 879.4 in the morning trading session of Monday, compared to the previous closing price of Rs. 865.75, after the company announced signing a Memorandum of Understanding (MoU).
With a market capitalisation of Rs. 52,265.2 crores, in the last one year, Container Corporation of India Limited has delivered positive returns of about 44.5 percent and around 16.6 percent returns in the last six months. So far in 2024, it has given negative returns of around 0.4 percent.
According to recent regulatory filings with the stock exchanges, Container Corporation of India Limited (CONCOR) and Central Warehousing Corporation (CWC) have signed a strategic collaboration through a Memorandum of Understanding (MoU).
The MoU aims to drive logistics innovation and efficiency, and this partnership will leverage their respective strengths to optimise supply chain management, improve customer service, and support industry growth.
The collaboration will include the sharing of infrastructure, technology, expertise, and resources to achieve common objectives of providing seamless and cost-effective end-to-end logistics services to its stakeholders by providing the best logistics solutions, with the overall goal of reducing the nation’s logistics costs.
In terms of financials, the revenue from operations of Felix Industries increased by 10.32% YoY from Rs. 2,004 crore in Q3 FY22-23 to Rs. 2,211 crore in Q3 FY23-24, accompanied by an increase in net profit by 12.96% to Rs. 331 crore in Q3 FY23-24 from Rs. 293 crore in Q3 FY22-23.
As of December 2023, FIIs hold 19.55 percent of the shares, whereas DIIs hold 22.76 percent of the shares in the company, aggregating to 42.31 percent of the institutional holdings.
Incorporated in 1988, Container Corporation of India Ltd. (CONCOR) provides cost-effective and reliable logistics solutions.
The company is engaged in the business of providing inland transport by rail for containers, as well as managing ports and air cargo complexes.
Written by Shivani Singh
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