Ircon International shares were the top gainer among the pack, jumping over 12 percent to trade at Rs 218 apiece, gaining the most in 20 weeks.
CONCOR's revenue also 1.6 percent to Rs 2,287.8 crore from Rs 2,325 crore for the January-March quarter of FY25.
According to Goldman Sachs, there are concerns on CONCOR's market share erosion amid rising competition.
Despite the recent correction in CONCOR shares, Goldman Sachs predicts a further downside for the stock.
Container Corporation Of India, or Concor, is in the business of inland transportation of containers by railways, and covers the management of ports, air cargo complexes as well as cold chains.
Container Corporation of India (CONCOR) stock slipped in early trade after Morgan Stanley assigned an Underweight rating with a target price of Rs 774, highlighting concerns over the company's growth trajectory.
The government is understood to be considering options like offer for sale or qualified institutional placement (QIP) for the stake sale.
The CMD of India's premier logistics company also sees stability even as the industry goes though a period of flux.
The logistics PSU plans to spend the Rs 610 crore to develop terminals and procure wagons, containers and IT equipment, as well as to acquire land.
New terminals likely to drive incremental volume growth
Container Corporation of India's net profit for the three months ended March jumped 5.5 percent to Rs 315.1 crore from the year-ago period.
Concor Q4 results: Revenue rose 6.4 percent to Rs 2,325.1 crore
The markets are expected to trade sideways and see heightened volatility ahead of the upcoming elections.
The company, according to the brokerage, could also benefit from the shift in volumes from Gujarat ports to JNPT after the entire DFC commissioning, which is likely to be completed in FY2026.
Among sectoral indices, Auto, Banks, FMCG and Power were the gainers while rest of the indices ended up in the red
IDBI Bank and CONCOR were the two prime divestment targets for FY24. However, several roadblocks came in the way and they were put on hold
Domestic volumes to remain firm going forward, but the international business may hit choppy waters
Apart from releasing the quarterly results, CONCOR informed the stock exchanges that its board has given the nod for an interim dividend of Rs 4 per share amounting to Rs 243.72 crore
The Budget Estimate for disinvestment receipts in 2023-24 has been kept at Rs 51,000 crore
The commencement of the dedicated freight corridor looks promising for the company.
The two sides have also agreed to explore the possibility of transportation of LNG through railway rakes from terminals near sea ports to the desired locations within India
This strategic partnership aims to revolutionise the logistics sector replacing diesel with natural gas, the Container Corporation of India Ltd (CONCOR) said in a statement.
Dedicated Freight Corridor’s (DFC) commissioning will certainly be a meaningful boost to volumes and efficiency of Concor, according to Nuvama Institutional Equities.
Container Corporation of India or Concor is the largest container freight services provider in the country with a revenue base of over Rs 8,000 crores. To strengthen its foothold in the domestic and international markets, the company has outlined a capex of over Rs 8,000 crores, spread over the next 3-5 years.
Apart from releasing the quarterly results, CONCOR informed the stock exchanges that its board has given the nod for an interim dividend of Rs 3 per share amounting to Rs 182.79 crore