Concor

Concor's consolidated net profit contracted 0.53 per cent to Rs 365.4 crore for three months ending September 30, 2024, from Rs 367.36 crore a year ago

The state-run logistics company's consolidated profit before tax rose to Rs 526 crore ($62.6 million) for three months ending Sept. 30 from Rs 482 crore a year ago

Competitive pressures add to logistics firm's demand woes

Concor had initially launched coastal shipping services in January 2019 but the services were halted in 2020 due to the Covid-19 outbreak

The government has put the privatisation of Container Corporation of India Ltd (Concor) on the backburner, an official said. In November 2019, the Union Cabinet approved the strategic sale of a 30.8 per cent stake, along with management control, in Concor -- a Navratna PSU under the Railways Ministry. The government currently holds 54.80 per cent of Concor. "The government is unlikely to push Concor's strategic sale. There are some concerns from Railways Ministry as also investors," the official said. The official further said that with the government holding in the company at 54.80 per cent, there is little scope for coming out with an offer for sale (OFS) in Concor. Although the Cabinet approval for the Concor sale was accorded in 2019, no worthwhile progress has so far been made, and even an Expression of Interest (EOI) has not been invited for the strategic sale. Shares of Concor closed at Rs 1,043.25 apiece, up 0.35 per cent over the previous close on the BSE.

Stocks to Watch today, July 3, 2024: he latest foreign ownership data, released on Tuesday, July 2, showed FII holding in the private bank falling to 54.83 per cent

At 02:30 PM; the stock of Concor was trading 6.29 per cent lower at Rs 1,103.25. In comparison, the S&P BSE Sensex was up by 0.39 per cent

At 6:51 AM, GIFT Nifty futures showed a rise of 26 points, trading at 22,478 levels, signaling a subdued start for the stock exchanges

Stocks to Watch on November 21, 2023: Concor has partnered with Indraprastha Gas to set up LNG/LCNG infrastructure within its terminals

Railway PSU Container Corporation of India Ltd has signed an agreement with Indraprastha Gas Ltd to explore the possibility of setting up LNG or LCNG infrastructure at its terminals in Uttar Pradesh and Gujarat. This strategic partnership aims to revolutionise the logistics sector replacing diesel with natural gas, the Container Corporation of India Ltd (CONCOR) said in a statement. "CONCOR and IGL have signed a memorandum of understanding (MoU) to explore the possibility of setting up LNG/LCNG infrastructure within the premise of CONCOR terminals. Initially, both LNG and LCNG facilities shall be installed at Dadri (Gautam Budh Nagar) terminal of CONCOR," the statement said. CONCOR and IGL also agree to explore the possibility of transportation of LNG in future through railway rakes from LNG terminals near sea ports like Dahej in Gujarat to the desired locations within India. The MoU signifies the commitment of both CONCOR and IGL to reduce carbon emissions and promote a cleaner, .

Stocks to watch on November 3, 2023: Atul's board meeting will be held on November 07 to consider a buyback proposal

Despite the weak Q1 show, the company is confident of meeting its EXIM growth target of 10-12% in FY24 given signs of recovery, and expects to maintain margins at the FY23 level (22.7%)

Green fuel truck maker Blue Energy Motors said on Tuesday it has bagged a contract from the Container Corporation of India Ltd (CONCOR) for the supply of 100 LNG-powered trucks. A Navratna PSU and leading containerized multimodal logistics services firm CONCOR plans to deploy the LNG-powered fleet of trucks at its strategic hubs to facilitate containers' first and last-mile movement, Blue Energy said in a statement. Green transportation is a part of the CONCOR's commitment to sustainability and decarbonization of its operations, as per the statement. This partnership reflects the growing importance of sustainable logistics in India and represents CONCOR's commitment to cut hazardous emissions by aligning itself with the government's larger climate change goals, it said. "This is a significant step towards providing momentum to India's green trucking revolution with our LNG-powered heavy-duty long-haul trucks. These trucks will help CONCOR establish a more sustainable and ...

Govt seeks to sell stake worth Rs 12,000 cr in national transporter this fiscal as part of disinvestment target

CLOSING BELL ON JUNE 12, 2023: The Nifty reclaimed the 17,600 level; In the broader market, BSE Midcap index advanced 0.5 per cent, and Smallcap added 0.7 per cent on Monday.

Ministry of Railways has not shown interest in the proposed 30.8% stake sale

With the Covid-19 pandemic crippling the supply-chain management across borders, investors and venture capital firms started to place their bets on logistics, seeing manifold growth in e-Commerce

Sources say officials from Railways, Concor, Niti Aayog, finance and law ministries expected to take final call on pending issues regarding transfer of land to private player post disinvestment

The meeting is to be chaired by the cabinet secretary

The government will this month invite Expression of Interest or preliminary bids for privatising Container Corporation of India (Concor), an official said on Wednesday. The official said the bid document for Concor is almost ready and has to get approval from 'Alternative Mechanism' which is essentially a group of key Cabinet ministers. "We are trying hard to issue the Preliminary Information Memorandum inviting Expression of Interest (EoI) for Concor as quickly as possible. It should be issued this month, subject to approval," the official told PTI. The Cabinet, in November 2019, had approved strategic sale of a 30.8 per cent stake, along with management control, in Concor out of the government equity of 54.80 per cent. The government will retain 24 per cent stake post sell-off but without any veto powers. However, the stake sale was hanging fire as investors awaited clarity on the rail land lease policy and licensing fees. The Union Cabinet in September approved a revised policy