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CONCOR surges on buzz of planning to invest Rs 1,000 crore to develop dry ports

Container Corporation of India (CONCOR) is currently trading at Rs. 478.00, up by 8.70 points or 1.85 % from its previous closing of Rs. 469.30 on the BSE.

The scrip opened at Rs. 472.30 and has touched a high and low of Rs. 479.45 and Rs. 468.80 respectively. So far 4192 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 5 has touched a 52 week high of Rs. 568.38 on 17-May-2018 and a 52 week low of Rs. 433.16 on 25-Oct-2018.

Last one week high and low of the scrip stood at Rs. 483.05 and Rs. 460.00 respectively. The current market cap of the company is Rs. 29014.60 crore.

The promoters holding in the company stood at 54.80%, while Institutions and Non-Institutions held 40.66% and 4.54% respectively.

Container Corporation of India (CONCOR) is reportedly planning to invest Rs 1,000 crore in the current financial to develop dry ports and other infrastructure. Out of the total Rs 1,000 crore, 30 to 40% will be spent for developing infrastructure for dry ports such land and buildings and around 60 to 70% for buying wagons and materials. In four years, the company is planning to buy 270 rakes.

CONCOR is a Public Sector Undertaking, under Ministry of Indian Railways which was incorporated in March 1988 under the Companies Act, and commenced operation from November 1989 taking over the existing network of 7 ICDs from the Indian Railways.

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