Container Corporation of India (CONCOR) board today gave nod to increase its authorised share capital to Rs 400 crore.
"The Board of Directors of the Company at its meeting held on January 25, 2016, has approved the increase in authorised share capital of CONCOR from existing Rs 200 crore (20 crore equity shares of Rs 10 each) to Rs 400 crore (40 crore equity shares of Rs 10 each)," the state-run company said in a BSE filing.
It said its Memorandum and Articles of Association would be amended accordingly.
"This would be subject to such government and other approvals as may be required," the company said.
Concor, a central government enterprise, commenced operations from November 1989 by taking over seven inland container depots (ICDs) from the Indian Railways in Delhi, Ludhiana, Bengaluru, Coimbatore, Guwahati, Guntur and Anaparti.
Since then, Concor has developed a vast network of container terminals at prime locations all over the country.
At present, it has a total of 41 exim terminals (rail or Road-linked ICDs and port side container terminals (PSCTs), with another 13 in the pipeline.
Concor provides transport linkages between ports and the hinterland. Regular container trains are run to and from ports to Concor's terminals in the hinterland. Some of the terminals are also served by roads.
The shares of the company closed at Rs 1,212.85 on BSE, up 1.08 per cent from the previous close.
