India's Container Corporation rises 4% on Goldman Sachs upgrade

Container of India

20/04/2023 06:51

** Shares of logistics operator Container Corporation of
India  CCRI.NS  rise as much as 4.07% to 623.80 rupees, their
highest level in over two months 
    ** Stock posts biggest intraday pct gain in over five months
    ** Global brokerage firm Goldman Sachs upgrades CCRI to
"buy" from "neutral" recommendation
    ** CCRI to be a key beneficiary of rail containerisation,
Goldman Sachs says
    ** Adds dominant market share in rail logistics segment also
led to the upgrade
    ** Expects 15.5% earnings CAGR (compound annual growth rate)
over FY2023-2025, with healthy cash generation
    ** About 2.5 mln shares change hands as of 11:06 a.m. IST,
more than twice the 30-day avg of 1.15 mln shares - Refinitiv
data
    ** Of the 27 analysts tracking CCRI, 14 maintain "buy", five
suggest "sell" and eight recommend "hold"; median TP is 737.50
rupees - Refinitiv data





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