CONCOR surges on signing MoU with Russian Railways Logistics

28 Feb 2020 Evaluate

Container Corporation of India is currently trading at Rs. 524.90, up by 11.25 points or 2.19% from its previous closing of Rs. 513.65 on the BSE.

The scrip opened at Rs. 509.00 and has touched a high and low of Rs. 530.00 and Rs. 492.95 respectively. So far 46562 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 665.05 on 01-Oct-2019 and a 52 week low of Rs. 460.00 on 14-May-2019.

Last one week high and low of the scrip stood at Rs. 599.00 and Rs. 492.95 respectively. The current market cap of the company is Rs. 32243.86 crore.

The promoters holding in the company stood at 54.80%, while Institutions and Non-Institutions held 40.71% and 4.49% respectively.

Container Corporation of India (CONCOR) and Joint Stock Company, Russian Railways Logistics have executed a Memorandum of Understanding (MoU) for cooperation and collaboration in promoting intermodal transportatfon of cargo over the International North-South Transport Corridor (INSTC). Pursuant to this MoU, both the organizations have signed the Service Agreement on February 25, 2020 at New Delhi.

This Service Agreement gives the broader responsibilities for transporting the cargo from India to Russia and vice-versa under a single invoice. This seamless transportation of containerized cargo will benefit both exporters and importers in India and Russia. It will also facilitate reduction in transit time and cost of transportation compared to the existing transportation via Suez Canal.

CONCOR is a Public Sector Undertaking, under Ministry of Indian Railways which was incorporated in March 1988 under the Companies Act, and commenced operation from November 1989 taking over the existing network of 7 ICDs from the Indian Railways.

Container Corp Share Price

882.20 14.75 (1.70%)
28-Mar-2024 16:01 View Price Chart
Peers
Company Name CMP
Allcargo Logistics 71.62
TVS Supply Chain Sol 154.50
Container Corp 882.20
Mahindra Logistics 409.70
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