Container Corp share hits 52-week high after Jefferies raises price target

Stock of Container Corporation of India hit a 52-week high today after brokerage Jefferies raised its target price to Rs 700 per share. Container Corporation of India share rose to a fresh  high of Rs 643.9, gaining 11.3% against previous close of Rs 578.55 on BSE. The stock opened at Rs 579.90.

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The share has gained 11.27% in the last 4 days. Container Corp share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The large cap share has risen 29.08% in one year and gained 54.58% since the beginning of this year.

Market cap of the firm rose to Rs 37,419 crore.

The brokerage house raised the earnings per share (EPS) estimates by 18-19 percent between FY22 and FY25. Privatisation and lower LLF are the next positive triggers to watch out for in CONCOR, it said in a note.

In Q3 of the current fiscal,  Container Corporation of India reported a 29.51%  rise in consolidated net profit rose to Rs 234.27 crore. Total income rose 14.39% to Rs 1,842.11 crore in Q3 of December 2020 on a year on year basis.

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Container Corporation of India is a navratna company engaged in transportation of containers (rail and road), and handling of containers. The company is also engaged in the operation of logistics facilities, including dry ports, container freight stations and private freight terminals.

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