LIC-backed multibagger railway logistics stock: This company signs an MoU with Schenker India Private Limited – know more here!

The stock is up by 40 per cent in 2 years and gave multibagger returns of over 120 per cent in 3 years.

Container Corporation of India Ltd (CONCOR) and Schenker India Private Limited (DB Schenker), one of the leading Logistics companies, have signed an MoU, today, December 19, 2023, at New Delhi to collaborate for EXIM & domestic business. CONCOR is a leading logistics service provider in the country with a Pan-India presence at 64 container terminals.

DB Schenker offers a complete range of international air & ocean freight, land transportation, contract logistics, fairs and exhibitions and global projects and industry solutions under a single window system.

The MoU was signed on December 19, 2023, in New Delhi, in the presence of Mr Sanjay Swarup, CMD of CONCOR, Ms Kinjal Pande, CEO of DB Schenker (India and Indian Subcontinent), along with senior officials from CONCOR and DB Schenker. This MoU underscores the commitment of both organizations to contribute to sustainable supply chain practices in the logistics industry.

Earlier, CONCOR and NTPC Vidyut Vyapar Nigam Limited (NVVN) signed a Memorandum of Understanding (MoU) to explore the possibility of setting up PV Solar renewable energy projects in CONCOR terminals, to promote sustainable and eco-friendly renewable solar energy. The MoU is signed to reduce carbon emissions and promote renewable power generation, contributing to a cleaner environment and aligning with global sustainability goals. This is in alignment with the Government of India’s commitment to achieve a 500 GW renewable energy target by 2030.

Today, shares of Container Corporation of India Ltd plunged 1.03 per cent to Rs 859.95 per share with an intraday high of Rs 876.95 and an intraday low of Rs 855.25. The company’s more than 50 per cent stake is owned by the President of India and Life Insurance Corporation of India (LIC) owns a 5.09 per cent stake in the company as of September 2023.

Container Corporation of India (CONCOR) is engaged in the business of providing inland transportation of containers by rail. It also covers the management of ports and air cargo complexes and establishes cold chains. The company has a market cap of over Rs 50,000 crore and has been maintaining a healthy dividend payout of 56.4 per cent.

The stock is up by 40 per cent in 2 years and gave multibagger returns of over 120 per cent in 3 years. Investors should keep an eye on this Mid-Cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.