PSU Navratna Stock Jumps 4.62% As Q2 Net Profit Soars 21%, Volume Spurts

Share of Navratna public sector undertaking, Container Corporation of India (CONCOR) witnessed a surge of nearly 4% in trade today after the company declared a rise of 21.05% in its consolidated net profit to Rs 367.36 crore from Rs 303.47 crore an year ago. Board of Directors of Container Corporation also declared an interim dividend of Rs 3 per equity share of the face value of Rs 5/- each. Last trading price of Container Corporation share on BSE is Rs 706.00 at 1:49 pm. Container Corporation also witnessed a spurt in volume by more than 10.02 times. Check details below:

Container Corporation Declares Interim Dividend: According to the BSE filing of the company issued today, "The Board has declared 2nd Interim Dividend for FY 2023-24 of 60% i.e. Rs.3.00 per equity purpose of payment of Interim Dividend has been fixed as 16.11.2023. The Interim dividend will be paid/ dispatched to the shareholders on or after 23.11.2023. The payment of dividend will be made within 30 days of its declaration."

Container Corporation Quarterly Results: CONCOR reported its Q2 revenue from operations soared 10.5% year-on-year (YoY) to Rs 2,194.87 crore as against Rs 1986.34 crore declared an year ago. The company stated that this was the highest revenue from operations and highest profit after tax registered in a quarter since inception.
Container Corporation Stock Outlook & Return: Current market price of Container Corporation share is Rs 706.00 per share on BSE. Its 52-week high price is Rs 828.50 per share and 52-week low price is Rs 555.00 per share, respectively. Its market capitalisation is Rs 43,016.18 crore. Container Corporation shares gave return of 13.39% in last 6-months, fell 11% in last 1-year, soared 77% in last 3-years, and offered return of 34% in last 5-years.

Container Corporation About: CONCOR is committed to providing responsive, cost effective, efficient and reliable logistics solution to its customers. It strives to be the first choice for its customers. CONCOR is a customer focused, performance driven, result oriented organization, focused on providing value for money to its customers, according to its official website.

Disclaimer:

The stock just highlights the rally in shares and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.