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Transport Corporation of India: Outlook improving, but wait for the right level

The positive momentum for TCI is set to continue in the second and the third quarter though volumes are likely to be lower than last year's as the outlook for fiscal FY21 remains a worry

September 30, 2020 / 10:26 AM IST
Transport Corporation of India: Outlook improving, but wait for the right level

The Mazagon Dock Shipbuilders Rs 444-crore public issue to list on BSE, NSE as on 12 October 2020. It witnessed an overwhelming response from investors as it was subscribed to 157.4 times, which is the top response in 2020 so far.

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

The June quarter results of multimodal logistics service provider Transport Corporation of India (TCI) were positive relative to some fairly underwhelming expectations. The company continues to perform well in all of its major business segments while the guidance numbers and strategic initiatives for FY21 embed a healthy amount of conservatism, which leaves room for some positive surprises. Key result highlights During the last conference call on earnings, the management had cautioned on weak revenues and break-even performance at the operating...

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