Container Corporation of India (Concor) stock opens 0.66% higher on NSE following a 26.13% YoY growth in domestic volumes for Q2 FY 2024. Domestic volumes reported at 2.61 TEUs, while EXIM volumes grew by 3.50% to 9.69 TEUs during the same period.
Total volumes for Q2 FY 2024 increased by 7.59% YoY to 12.3 TEUs. Indian Railways imposes a 10% ‘busy season haulage charge hike on container traffic,’ expected to have a limited volume impact on Concor, with cost pass-through to consumers in the next 1-2 months.
Concor, a state-owned ‘Navratna’ company, focuses on inland transport by rail for containers and has diversified into managing ports, air cargo complexes, and establishing cold chain operations.
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