Gladiator Stocks - Concor - ICICI Direct

Technical View

Within logistics space, we remain constructive on Concor as it has resolved out of past 12 weeks consolidation range (540-640), signalling resumption of primary uptrend and offers fresh entry opportunity

The share price has formed a higher base above its 10 week EMA which has been held since February 2021, displaying robust price structure. Key point to highlight is that the stock has retraced 50% of the preceding February up move (Rs. 426-644). Shallow price retracement indicates inherent strength in the stock

Fundamental View

- Container Corporation is the dominant CTO player in the country (66% MS in EXIM and 74% in Domestic). It has 64 terminals overall (inclusive of 26 on Indian railway land) and regularly runs double stack train operations (2574 rakes in FY21)

- The company has also been focusing in higher lead distances (EXIM: 697 km and Domestic: 1378 km in FY21), which drives higher realisation for the company. Roughly, 40% of its volumes flow via North-West Corridor, that is expected to gain a major boost, with a shift in road to rail market share and a better pricing power, with the DFC connectivity. The management expects the DFC to operationalize (connect Northern India to Mundra and Pipavav port) from October onwards, which would lead to better turnaround times and running of time-table bound freight trains

For details, click on the link below: Link to the Report

Shares of CONTAINER CORPORATION OF INDIA LTD. was last trading in BSE at Rs.666.85 as compared to the previous close of Rs. 634.55. The total number of shares traded during the day was 866356 in over 25992 trades.

The stock hit an intraday high of Rs. 677.95 and intraday low of 635. The net turnover during the day was Rs. 568839466.

Source : Equity Bulls

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