{"id":69131,"date":"2022-10-19T18:12:00","date_gmt":"2022-10-19T12:42:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=69131"},"modified":"2022-10-19T19:00:47","modified_gmt":"2022-10-19T13:30:47","slug":"psu-stock-jumps-6-8-as-govt-starts-roadshows-nomura-sees-more-upside","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/psu-stock-jumps-6-8-as-govt-starts-roadshows-nomura-sees-more-upside\/","title":{"rendered":"PSU Stock jumps 6.8% as govt starts roadshows, Nomura sees more upside"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2261274668\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The shares of Container Corporation of India Ltd. (CONCOR) jumped 6.88% on Wednesday to close at Rs. 771 per share. The surge in CONCOR\u2019s stock price has been attributed to the news of DIPAM initiating roadshows for the divestment of the company.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1166761552\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>Incorporated in March 1988, CONCOR is a subsidiary of the Ministry of Railways, Government of India. It provides inland transportation of containers by rail wagon fleet. Additionally, the government company manages ports, and air cargo complexes and establishes cold-chain.&nbsp;<\/p><p>The government holds a majority stake of 54.8% in the PSU. The ministry is likely to sell a 30.8% stake to meet its privatisation target for 2022-23.<\/p><p>The company informed the exchanges that the Department of Investment and Public Asset Management (DIPAM) has initiated roadshows with prospective investors for the disinvestment process.<\/p><div class=\"trade-content_5\" id=\"trade-3437310859\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>In the filing, the PSU stated, \u201cThe roadshow(s) will be held during 19.10.2022 to 21.10.2022 in virtual mode, which will have representatives from DIP AM, Ministry of Railways and CONCOR.\u201d<\/p><p>Early in September this year, the Union Cabinet had slashed the railways\u2019 land licensing fee for certain usages to 1.5% from 6% before. This came along with a reduction in the lease period for specific end-uses. Market experts commented that the decision will speed up the sale of the Centre\u2019s stake in the company.&nbsp;<\/p><p>The privatization of CONCOR has garnered interest already. Earlier last year, Karan Adani, the CEO of Adani Ports and Special Economic Zone Ltd said that the company is aggressively building up a war chest of debt and cash to acquire CONCOR.<\/p><p>\u201cIn our view, Concor is a strategic acquisition and we believe that by fundraising without stretching the balance sheet, we should easily be able to execute the acquisition,\u201d Adani said during an earnings call on August 03, 2021.<\/p><p>Amid these developments, the global brokerage Nomura expects CONCOR to reverse its decline in market share led by strong EXIM (Export-Import) volumes during the September quarter.<\/p><p>Analysts at Nomura have given a \u2018buy rating\u2019 on the stock with a target price of Rs. 918 for CONCOR\u2019s stock. This translates to prospective gains of 19% for the investors from its Wednesday closing price of Rs. 771 per share.<\/p><div class=\"trade-content-10\" id=\"trade-1908475650\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p><strong>Written By &#8211; Vikalp Mishra<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-3332070059\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The shares of Container Corporation of India Ltd. (CONCOR) jumped 6.88% on Wednesday to close at Rs. 771 per share. The surge in CONCOR\u2019s stock price has been attributed to the news of DIPAM initiating roadshows for the divestment of the company. Incorporated in March 1988, CONCOR is a subsidiary of the Ministry of Railways, [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":31478,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[4865,31],"tags":[],"class_list":["post-69131","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>PSU Stock jumps 6.8% as govt starts roadshows, Nomura sees more upside - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/psu-stock-jumps-6-8-as-govt-starts-roadshows-nomura-sees-more-upside\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PSU Stock jumps 6.8% as govt starts roadshows, Nomura sees more upside\" \/>\n<meta property=\"og:description\" content=\"The shares of Container Corporation of India Ltd. 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