| Hot Pursuit | Wednesday, May 23, 2012 12:32 Hrs IST |
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Concor drops after weak Q4 earnings Container Corporation of India fell 1.5% to Rs 845 at 12:31 IST on BSE after net profit fell 8.1% to Rs 227.08 crore on 6.9% growth in net sales to Rs 1071.10 crore in Q4 March 2012 over Q4 March 2011.
The company announced the results after market hours on Tuesday, 22 May 2012. Meanwhile, the BSE Sensex was down 76.30 points or 0.48% to 15,950.11. On BSE, 584 shares were traded in the counter as against average daily volume of 25,433 shares in the past one quarter. The stock hit a high of Rs 871 and a low of Rs 835 so far during the day. The stock had hit a 52-week low of Rs 805 on 30 December 2011. The stock had hit a 52-week high of Rs 1,174.90 on 29 July 2011. The stock had outperformed the market over the past one month till 22 May 2012, falling 5.69% compared with the Sensex's 7.76% fall. The scrip had, however, underperformed the market in past one quarter, declining 15.5% as against the Sensex's 11.68% fall. The company has an equity capital of Rs 129.98 crore. Face value per share is Rs 10. Container Corporation of India's net profit rose 0.2% to Rs 877.88 crore on 6.1% growth in net sales to Rs 4060.93 crore in the year ended 31 March 2012 over the year ended 31 March 2011. Container Corporation of India's board of directors at a meeting held on Tuesday, 22 May 2012, recommended a final dividend of Rs 9 per share for the year ended March 2012. The government of India (GoI) owns 63.09% stake in Container Corporation Of India, which is known by its acronym Concor. Concor was incorporated in March 1988 under the Companies Act, and commenced operation from November 1989 taking over the existing network of 7 Inland Container Depot (ICDs) from the Indian Railways. The company is today an undisputed market leader having the largest network of 61 ICDs/container freight stations in India. In addition to providing inland transport by rail for containers, Concor has also expanded to cover management of ports, air cargo complexes and establishing cold-chain.
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