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Buy Container Corporation of India; target of Rs 780: ICICI Direct

ICICI Direct is bullish on Container Corporation of India recommended buy rating on the stock with a target price of Rs 780 in its research report dated January 22, 2022.

January 31, 2022 / 11:47 AM IST
 
 
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ICICI Direct's research report on Container Corporation of India

Concor is the dominant player in the CTO business (65% market share) with ~60 terminals. • Revenue from rail transportation comprised 75% of total revenues (rest 4% by road, 13% via handling income, 2% warehousing and 4% others) • Total volumes handled in FY21 were 3.6 million TeU, of which Exim volumes were at 83% of the mix with the rest contributed by domestic containers.

Outlook

We remain positive on the long term growth prospects of the stock and maintain our BUY recommendation. We value the stock at Rs 780 i.e. 21x P/E on FY24E EPS.