Jefferies upgrades Container Corp Of India on potential volume growth

Container of India

14/09/2023 07:20

** Shares of Container Corp of India  CCRI.NS  rise as much as 3.42% to 723
rupees apiece
    ** Jefferies upgrades the stock to "Buy", raises price target to 825 rupees
from 775 rupees   
    ** Expects CCRI to start regaining market share due to its presence in the
dedicated freight corridor (DFC)
    ** Believes CCRI's volumes will grow at 15% on CAGR basis between FY23 and
FY26 with DFC  
    ** Adds, normalised rail operations, road to rail shift and market
share/margin recovery should lead to stock upside
    ** Half of 24 analysts rate stock "buy" or higher, six "hold" and six "sell"
or lower; their median PT is 700 rupees 
    ** Stock down 2.45% in 2023 so far, compared with ~29% rise in Nifty Midcap
100 index  .NIFMDCP100 

 (Reporting by Archishma Iyer in Bengaluru)
 ((Archishma.Iyer@thomsonreuters.com;))