Rs 2.5 Dividend: Logistics Railways PSU Hits 52-Week High Post Q4, Morgan Issues Call

Container Corporation of India Ltd shares today hit 52-week high with the rally of 4.80% to settle at Rs 1087.75 per share. The Board of Directors of Container Corporation of India share recommended a final dividend of Rs 2.50 per share of the face value of Rs 5/- each for the year 2023-24. 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.

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. More details below:

CONCOR Recommends Dividend: As per the BSE filing of the company dated May 16, "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 Q4: The company announced that 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.

Morgan Issues Equal Weight Call: Leading brokerage firm Morgan Stanley has issued an equal-weight rating on CONCOR share with target price of Rs 1,076.
CONCOR Share Performance: The 52-week high price of Container Corporation of India share is Rs 1,115.95 per share (as on 17/05/2024) and 52-week low price is Rs 609.90 per share (as on 19/05/2023), respectively. Its market capitalisation is Rs 66,275.99 crore. Its PE is 53.85 and ROE 10.42. Container Corporation of India share rallied 15% in last 1-month, gained 45% in last 6-months, soared 70% in last 1-year, rose 91% in 3-years, and zoomed 127% in last 5-years.

Container Corporation Dividend History: Container Corporation of India Ltd announced 49 dividends since August 16, 2000. In last 1-year, Container Corporation of India announced an equity dividend amounting to Rs 11.00 per share. At the current share price of Rs 1058.80 per share, Container Corporation of India offers dividend yield of 1.04%.

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.

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