India's Container Corp falls as Dec-qtr domestic volumes slide

Container of India

12/01/2024 08:01

** Shares of Container Corporation of India  CCRI.NS  down
2% to 885 rupees on a fall in December-quarter domestic volumes
    ** State-owned logistics firm says its December-quarter
domestic volumes fell 1.3% y/y; total volumes rose 6.1% y/y
    ** Stock rose 1.1% in early hours of trade before falling as
much as 2.4% 
    ** Stock set to snap three straight sessions of gains
    ** Stock has been trading above its 50-day, 100-day, and
200-day SMAs since Nov 3, after co reported 21% jump in Q2
profit on Nov 2
    ** Avg rating of the 22 analysts covering the stock is
"hold" and median PT is 764 rupees, ~14% lower than current
price - LSEG data
    ** Stock rose 16.4% in 2023, gaining for the third
consecutive year

 (Reporting by Anuran Sadhu in Bengaluru)
 ((Anuran.Sadhu@thomsonreuters.com ;))