Kotak Securities's research report on Container Corporation of India
Container Corporation has reported strong YoY increase in volume in Exim at 794,402 TEUs (+11.4% YoY) and similar growth in domestic at 142,559 TEUs (+9.7% YoY). But volumes failed to pick-up sequentially. Even realizations continue to remain under pressure. We believe the current market price factors the bad things that can happen to the company.
Outlook
Increased double stacking, higher number of operational logistics park and improvement in business prospect bodes well for Concor. Recommend BUY with an unchanged TP Rs 775 at 28x FY20E.
For all recommendations report, click here
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