Moneycontrol News
Shares of Container Corporation are trading higher by a percent as investors reacted positively to its September quarter performance.
The company reported a 46.80 percent its standalone net profit to Rs 336.05 crore for the quarter ended September 30, 2018.
It had clocked a standalone net profit of Rs 228.91 crore for the corresponding quarter of the previous fiscal, it said in a filing to the BSE.
Its total income for the quarter under review increased to Rs 1,891.51 crore from Rs 1,520.28 crore in the corresponding quarter a year-ago.
Citi has maintained its buy call on the stock with a target at Rs 806. The global research firm said that the company continues to enjoy structural tailwinds. It is benefitting from healthy volume growth and better pricing power. It remains the top pick in the infrastructure space.
Goldman Sachs also has a buy call on the stock with a target at Rs 700. It expects margin to improve slightly despite haulage hike last night. It expects strong growth driven by more service income.
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