Container Corp of India slides on Goldman's profit warning, PT cut

Container of India

12/12/2024 06:59

** Shares of Container Corp of India  CCRI.NS  fall 3.2% to
828 rupees, set for biggest one-day drop since early Oct
    ** Goldman Sachs keeps "sell", cuts PT to 710 rupees from
810 rupees
    ** GS expects earnings downgrade cycle for the logistics
firm to continue due to weak growth for rail container traffic
    ** Says despite the recent correction, CCRI shares likely
see more downside
    ** GS's PT implies 17% downside in next 12 months and is
second-lowest among 20 analysts covering CCRI -LSEG data
    ** CCRI down 23% since end May, logging losses in every
month
    ** Stock has lost 3.8% YTD vs 28% rise in Nifty midcap 100
 .NIFMDCP100  and 31% jump in Nifty PSE index  .NIFTYPSE 

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))