Street bullish on Concor's prospects following likely stake sale by govt

Volume gains from dedicated freight corridor remains the key stock driver

The Container Corporation of India (Concor) stock hit record highs earlier this week on expectations that the government is looking to shed a substantial stake in India’s largest rail container operator. The government, which owns about 55 per cent in the company, is exploring options to offload 30 per cent stake to strategic investors along with management control. The Adani group is reportedly among the few investors exploring its options on investing in Concor. At the current market cap of nearly Rs 39,000 crore, the stake sale would fetch the government about Rs 11,700 crore. In the backdrop of these