CONCOR shines on extending contract with CCBL
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Container Corporation Of India is currently trading at Rs. 983.00, up by 27.30 points or 2.86% from its previous closing of Rs. 955.70 on the BSE.
The scrip opened at Rs. 955.50 and has touched a high and low of Rs. 987.55 and Rs. 951.65 respectively. So far 430810 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 987.55 on 16-Feb-2024 and a 52 week low of Rs. 555.00 on 29-Mar-2023.
Last one week high and low of the scrip stood at Rs. 987.55 and Rs. 894.15 respectively. The current market cap of the company is Rs. 60076.42 crore.
The promoters holding in the company stood at 54.80%, while Institutions and Non-Institutions held 42.43% and 2.77% respectively.
Container Corporation of India (CONCOR) has signed an important addendum to the existing Memorandum of Understanding (MoU) with Container Company of Bangladesh (CCBL), Bangladesh. The addendum thus signed enabled extension of the existing agreement till April 7, 2027. The said MoU was earlier executed between CONCOR, India and CCBL, Bangladesh in the year 2017 for developing modalities for running containers trains between India and Bangladesh to facilitate the cross-border trade besides developing various infrastructure, logistics business and projects-related services.
CONCOR, a Navratna CPSU under the Ministry of Railways, Govt of India, has been since then executing movements of container trains between India and Bangladesh through Petrapole-Benapole, and other border routes on regular basis. It has helped the trade community of both the countries immensely, who have been involved in international business. CONCOR has also extended many projects related services for developing Inland Container Depots at Sirajganj, Ishurdih and other locations in Bangladesh.
Besides this, CONCOR, aligned with the extant guidelines of the Indian Railways, Ministry of External Affairs, and Ministry of Commerce (Customs), has regularly been active in overall development of Railway and logistics-related infrastructure and trade in Bangladesh. Signing of the addendum to the MoU in vogue, which extended its validity for further period till April 7, 2027, has further strengthened the ongoing international containerised trade systems and understandings between both the neighbouring countries.
CONCOR's core business is characterised by three distinct activities, that of a carrier, a terminal operator, and a warehouse operator.
