Container Corporation of India drops on disinvestment delay report

Container of India

12/06/2023 05:50

** Shares of state-owned logistics operator Container
Corporation of India  CCRI.NS  fall as much as 3.23% to 651.70
rupees - steepest intraday fall since May 19
    ** Local media reports likely indefinite delay in Indian
railway ministry's plans to disinvest in co
    ** CCRI yet to respond to Reuters' request for comment 
    ** Co witnessed golden cross pattern on June 8
    ** Shares currently trading above 50-day and 100-day simple
moving averages 
    ** More than 434,769 shares traded as of 10:15 a.m. IST,
0.5x the 30-day avg
    ** Fourteen out of 27 analysts rate stock "buy" or higher, 9
suggest "hold", while 4 recommend "sell" or lower; median PT
697.50 rupees 
    ** Shares have fallen ~11% so far this year 

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))