President of India-backed railway logistics company signs an MoU with PSA MESA Supply Chain Pvt Ltd – know more here!
The stock is up by 55 per cent from its 52-week low of Rs 599.90 per share
Container Corporation of India (CONCOR) joined forces with PSA MESA Supply Chain Pte. Ltd. (PSA MESA), a subsidiary of global port operator PSA International. This collaboration, signed on April 18, 2024, aims to provide customers with seamless and cost-effective end-to-end logistics solutions by combining CONCOR's pan-India network of over 60 terminals with PSA MESA's experience in integrated supply chain management. Leveraging their strengths in infrastructure and expertise, this strategic partnership looks to not only enhance ease of doing business but also contribute to the development of more sustainable, efficient, and resilient supply chains in support of India's national logistics transformation.
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 plunged 1.07 per cent to Rs 914.65 per share with an intraday high of Rs 928 and an intraday low of Rs 898.85. The company’s 54.80 per cent stake is owned by the President of India and Life Insurance Corporation of India (LIC) owns a 5.84 per cent stake in the company as of March 2024.
The company has a market cap of over Rs 55,000 crore and has been maintaining a healthy dividend payout of 56.4 per cent. The stock is up by 55 per cent from its 52-week low of Rs 599.90 per share. Investors should keep an eye on this Mid-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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