Rs 2.5 Dividend Soon: Buy Logistics Railways PSU For TP Rs 1207, ‘RSI Attractive’: PL

Leading brokerage firm Prabhudas Lilladher has recommended buy call to Container Corporation of India Ltd shares with target price of Rs 1207 per share. Current market price of Container Corporation of India share on BSE is Rs 1059.15 per share with intraday gain of 2.57%. Container Corporation of India share offered 57% return in last 1-year and 69% return in last 2-years. The PSU has a market capitalisation of Rs 64,533.41 crore. The company on May 16 recommended a final dividend of Rs 2.50 per share of the face value of Rs 5/- each for the year 2023-24 and yet to announce the record date for the same. Check key details below:

PRABHUDAS LILLADHER HAS BUY ON CONCOR SHARE: According to the brokerage firm, "the stock after witnessing a short period of correction from the recent peak of 154 zone, has taken support near 1015 zone, witnessing a decent pullback to move past the significant 50EMA level of 1044 to improve the bias of and anticipating for further rise in the coming days. The RSI has arrived at a very attractive zone and is well placed indicating a trend reversal to signal a buy. With the chart pattern looking very attractive, we suggest to buy the stock for an upside target price of Rs 1207 keeping the stop loss of Rs 1005."

CONCOR Q4: The company on May 16 declared a jump of 5.5% in its March 2024 quarter profit to Rs 315.1 crore from the year-ago period amid growth in volume soaring market share. Sequentially, its profit after tax (PAT) remained lower than Rs 333.67 crore in the December quarter. Meanwhile, the revenue of Concor zoomed 6.4% to Rs 2,325.1 crore amid 11.24% year-on-year surge in total volumes for the March 2024 quarter. The PSU declared its revenue at Rs 2210 crore for December quarter. The company announced a surge of 8.5% in its EBITDA at Rs 591 crore from the year-ago tenure. EBITDA margin zoomed 50 basis points to 25.4% from 24.9% in q4 fy2023.

Shareholding: Number of FII/FPI investors increased from 642 to 650 in March 2024 quarter. Life Insurance Corporation Of India (LIC) has stake of 5.84% in CONCOR with 35,569,377 shares of the company.

CONCOR Dividend: The company on May 16 stated, "further, please be informed that the Board has declared a Final Dividend of Rs.2.50/- (50%) per equity share of face value of Rs.5/ each for the year 2023-24 which is subject to approval of the shareholders in the ensuing Annual General Meeting. The above Final Dividend is in addition to Interim Dividend @40% (i.e. Rs.2/- per share of Rs.5/- each), 2nd Interim Dividend @60% (i.e. Rs.3/- per share of Rs.5/- each) and 3n1 Interim Dividend @80% (i.e. Rs.4/- per share of Rs.5/- each) already paid during the year."

CONCOR Share Performance: The 52-week high price of Container Corporation of India share is Rs 1,193.95 per share (as on 04/06/2024) and 52-week low price is Rs 646.90 per share (as on 14/08/2023), respectively. Its market capitalisation is Rs 64,533.41 crore. Its PE is 51.12 and ROE 10.42. Container Corporation of India share gained 14% in last 3-months, rose 23% year-to-date, jumped 52% in last 3-yeara, and offered return of 84% in 5-years.

Container Corporation Bonus Share History: Container Corporation of India offered 4 bonus issues since April 16, 2008. The last Bonus that Container Corporation of India declared was in the ratio of 1:4 with ex-date of February 4, 2019.

Container Corporation Stock Split History: Container Corporation of India split the face value of its share once since June 26, 2018. Container Corporation of India last split the face value of its shares from Rs 10 to Rs 5 in 2018.
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 has been picked from the brokerage report of Prabhudas Lilladher. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.