Container Corporaton of India (Concor) gained nearly 2% at Rs 960 on reports that the company is planning to expand its cold storage business.
The company directly sells to Bharti-Walmart, Big Apple, Reliance Retail, Mother Dairy, Future Group and Heritage Foods in the northern part of the country. It has a tie-up with Unifrutti, a multinational company, for sale of fruits in the south.
“The investment will be to the tune of Rs 1,500 crore in opening cold storage units. Capacity expansion at various cities will depend on the location of the place and the quantity of horticulture produce at nearby places," said a senior Concor executive.
The scrip opened at Rs 959.7 and around 13,668 shares have changed hands on the National Stock Exchange (NSE) till 1000 hours.