President of India’s portfolio multibagger stock hit 52-week high as it entered into MoU with NTPC Vidyut Vyapar Nigam Ltd (NVVN)!

The stock is up by 40 per cent in 2 years and gave multibagger returns of over 100 per cent in 3 years.

Container Corporation of India Limited (CONCOR) and NTPC Vidyut Vyapar Nigam Limited (NVVN) have signed a Memorandum of Understanding (MoU) to explore the possibility of setting up PV Solar renewable energy projects in CONCOR terminals, with an aim 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 500 GW renewable energy target by 2030.

In a move towards sustainable energy, NVVN and CONCOR have signed an agreement to explore setting up solar projects in CONCOR terminals. CONCOR will provide land and purchase the generated solar power while NVVN will handle project design, construction, and maintenance. This collaboration aims to reduce carbon emissions and promote renewable energy use, aligning with India's clean energy goals.

Both companies are optimistic about the positive impact this collaboration will have in the logistics and transportation sector, fostering a paradigm shift towards sustainable practices in the logistics sector.
Mr Sanjay Swarup -CMD of CONCOR mentioned that this MoU is yet another step in the direction of promoting green energy in the logistics sector as earlier CONCOR had procured LNG trucks for road transportation.

Ms Renu Narang -CEO of NVVN expressed her optimism that this cooperation between the two PSUs will provide further impetus to develop solar-based solutions on Pan India basis at CONCOR’s terminals that will facilitate promoting sustainable energy use in the country.

On Friday, shares of Container Corporation of India Ltd gained 0.12 per cent to Rs 842.95 per share with an intraday high of Rs 859.75 and an intraday low of Rs 830. The stock also made a new 52-week high of Rs 859.75 per share. The company’s more than 50 per cent stake is owned by the President of India 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 100 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.