Container Corporation of India Ltd surrenders terminal back to Railways

Due to commercial and business viability considerations, Container Corporation of India Ltd has decided to surrender / hand over its ICD, Mulund (NGSM) terminal of the Company w.e.f. 31.12.2020 which is built on the land taken on lease from the Railways.

As per the Company's assessment, the above surrender / handover of the terminal to the Railways will not impact the business of the Company materially. The turnover from this terminal for FY 2019-20 was Rs.47.63 crores, net fixed assets deployed at this terminal was Rs.5.45 crores.

Shares of CONTAINER CORPORATION OF INDIA LTD. was last trading in BSE at Rs.387.85 as compared to the previous close of Rs. 380.35. The total number of shares traded during the day was 69306 in over 2397 trades.

The stock hit an intraday high of Rs. 389.3 and intraday low of 378.7. The net turnover during the day was Rs. 26697592.

Source : Equity Bulls

Keywords