President of India-backed railway company places wagons order worth Rs 64,52,00,000 to Aanjaney Rail Pvt Ltd
The company has a market cap of over Rs 40,000 crore and has been maintaining a healthy dividend payout of 55 per cent.
Container Corporation of India Ltd. (CONCOR) has announced a significant order placement with Aanjaney Rail Pvt Ltd, a domestic entity, for the supply of 1350 units of Low Weight Low Height 25T axle load bogies (LWLH 25) and their components, crucial for 25T axle load wagons. This order, valued at Rs 64.52 crore (including GST), is slated for completion by August 5, 2026. CONCOR has confirmed that there is no promoter/promoter group/group company interest in M/s Aanjaney Rail Pvt. Ltd., and therefore, this transaction does not fall under related party transactions, ensuring it is conducted at arm's length.
Container Corporation of India Ltd. (CONCOR), was incorporated in March 1988 under the Companies Act and commenced operation from November 1989 taking over the existing network of 7 inland container depots from the Indian Railways. CONCOR is a market leader having a widespread network of more than 60 terminals 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 company has developed multimodal logistics support for India's international and domestic containerization and trade.
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Today, shares of Container Corporation of India Ltd gained 3.20 per cent to Rs 664 per share from its previous closing of Rs 643.40 per share. The company’s 54.80 per cent stake is owned by the President of India and Life Insurance Corporation of India (LIC) owns a 9.14 per cent stake in the company as of December 2024.
The company has a market cap of over Rs 40,000 crore and has been maintaining a healthy dividend payout of 55 per cent. The stock is up by 10 per cent from its 52-week low of Rs 601.65 per share. Investors should keep an eye on this mid-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.