New Delhi: Shares of Container Corporation of India (CONCOR) rose more than 5 percent on Tuesday after the state-run logistics company reported healthy growth in container volumes for the June quarter, signalling improving cargo movement across its network.
The stock was trading at Rs 489.50, up 5.51 percent during the session. It touched an intraday high of Rs 492 and had a market capitalisation of Rs 37,280 crore, according to the latest market data.
Volumes Increase
CONCOR said its total container throughput increased 8.9 percent year-on-year to 14,04,821 twenty-foot equivalent units (TEUs) in the June quarter, compared with 12,90,101 TEUs in the same period last year.
Export-import (EXIM) container volumes rose 9.8 percent to 10,69,082 TEUs from 9,73,875 TEUs a year ago. Domestic container volumes also grew 6.2 percent to 3,35,739 TEUs, compared with 3,16,226 TEUs in the corresponding quarter. The company clarified that these figures are provisional.
Clean Fuel Push
Earlier this month, CONCOR signed a 15-year agreement with GAIL (India) to set up an LNG dispensing station at its Inland Container Depot in Ahmedabad.
Under the arrangement, GAIL will develop and operate the LNG retail outlet, while CONCOR will provide land and utility connections. The project aims to encourage the use of cleaner fuel by heavy commercial vehicles operating at the logistics hub.
Brokerage Remains Positive
Last month, Jefferies maintained its 'Buy' rating on CONCOR with a target price of Rs 600.
The brokerage said the stock had underperformed the Nifty by nearly 50 percent since June 2024 because of slow growth in the container rail industry and delays in the government's divestment plans. However, it believes most of these concerns are already reflected in the valuation and expects improving trade activity to support future volume growth.
Despite Tuesday's rally, CONCOR shares remain down more than 7 percent in 2026 and over 21 percent during the past one year.
Disclaimer: This article is for informational purposes only and should not be considered investment advice. Investors should consult qualified financial advisers.
