Container Corp of India extends post-results rally

Container of India

06/11/2023 09:58

** Shares of Container Corp of India  CCRI.NS  rise as much
as 4% to 742 rupees
    ** Stock on track for a third consecutive session of gains,
if trends hold 
    ** Analysts at Equirus Securities in a note say entire
western-dedicated freight corridor becoming operational in the
next 12-15 months should help CCRI in the long term.
    ** While domestic profitability has improved due to focus on
reducing empty running cost, expect adverse impact of
export-import imbalance to be partially offset by progressively
higher double stacking - ICICI Securities 
    ** CCRI on Thursday reported 21% rise in Q2 consolidated net
profit
    ** Trading volume is over 2.5 mln shares as of 3:27 p.m.
IST, 2.3x the 30-day avg - LSEG data

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))