CONCOR Stock Soars: Financial Highlights, Dividend Declaration & Leadership Changes in 2023

CONCOR Stock Soars: Financial Highlights, Dividend Declaration & Leadership Changes in 2023
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Nifty Midcap 50 Index

  • The Nifty Midcap 50 is an index of the National Stock Exchange of India (NSE).
  • It represents mid-sized companies listed on the NSE and includes 50 mid-cap companies.
  • This index is a crucial benchmark for mid-cap investments in the Indian stock market based on market capitalization.

Financial News from CONCOR

Container Corporation of India (CONCOR), a state-owned company, reported a significant 21% increase in consolidated net profit during the September quarter, reaching Rs 368.49 crore.

The reported net profit of Rs 368.49 crore for the September quarter is not only a significant leap from the previous year’s figure of Rs 303.80 crore but also exemplifies the resilience and adaptability of CONCOR in a dynamic market.

Interim Dividend Declaration

The board of directors of CONCOR declared an interim dividend of Rs 3 per equity share with a face value of Rs 5 each, totaling Rs 182.79 crore for the fiscal year 2023-24.

This dividend declaration signifies a commitment to rewarding shareholders and distributing profits. Shareholders who qualify on the record date, which is November 16, 2023, will receive this interim dividend.

The decision to declare an interim dividend is often indicative of a company’s confidence in its financial stability and ability to generate profits.

The dividend announcement provides an additional layer of attractiveness to CONCOR’s investment proposition. For investors seeking both capital appreciation and periodic income from their investments, dividend-paying stocks like CONCOR can be an appealing choice.

Leadership Appointment at CONCOR

In a significant corporate move, Priya Ranjan Parhi has been appointed as Director (International Marketing & Operations) (Additional charge) of CONCOR, effective from October 23, 2023.

Parhi’s appointment adds a new dimension to CONCOR’s leadership team. With over 26 years of experience in the Indian Railways Traffic Service (1996), Parhi brings a wealth of expertise in various areas, including railway operations, project planning and funding, containerized cargo movements, PPP policy implementation, freight corridors, high-speed corridors, and international rail cooperation.

Parhi’s dual role as Executive Director (Infrastructure) in the Railway Board underscores his involvement in critical policy formulation and the execution of special projects of national importance.

These projects encompass dedicated freight corridors (DFC) and high-speed corridors, which are integral to the nation’s transportation infrastructure. Parhi’s appointment signifies CONCOR’s commitment to ensuring that its leadership team is equipped to address the evolving demands and challenges in the logistics and transportation sector.

Container Corporation of India Ltd. (CONCOR) – Stock Performance on November 6, 2023:

NSE (National Stock Exchange)

  • On November 6, 2023, CONCOR’s stock was priced at ₹736.05.
  • It saw a positive change of +22.30 (3.12%).
  • This data is as of 03:30 pm IST. CONCOR operates in the logistics sector, with a focus on warehousing and supply chain solutions.

Performance Over the Day on NSE (1 Day)

  • The stock opened at ₹720.00.
  • Its highest point for the day was ₹742.00.
  • The lowest point reached was ₹718.00.
  • The previous closing price on November 6, 2023, was ₹713.75.
  • Trading volume for the day was 25,92,825 shares.
  • The Volume-Weighted Average Price (VWAP) on that date was ₹734.94.

BSE (Bombay Stock Exchange)

  • On November 6, 2023, CONCOR’s stock was priced at ₹736.95.
  • It experienced a positive change of +20.05 (2.79%).
  • As of 03:30 pm IST on November 6, 2023, these figures hold.
  • CONCOR operates in the logistics sector, with a focus on warehousing and supply chain solutions.

Performance Over the Day on BSE (1 Day)

  • The stock opened at ₹720.00 on November 6, 2023.
  • Its highest point for the day was ₹741.90.
  • The lowest point reached was ₹719.80.
  • The previous closing price on November 6, 2023, was ₹716.90.
  • The trading volume for the day was significant at 97,323 shares.
  • The Volume-Weighted Average Price (VWAP) on that date was ₹734.10.

Investor’s Profit from Shares of CONCOR on November 6, 2023

If an investor had bought 100 shares of CONCOR on November 6, 2023, at the opening price of ₹720.00 per share, the total cost would have been:100 shares x ₹720.00 = ₹72,000

Now, let’s calculate the total value of the investment at the closing price of ₹736.05 per share:100 shares x ₹736.05 = ₹73,605

To determine the profit, we subtract the initial investment cost from the closing value:₹73,605 – ₹72,000 = ₹1,605

So, if the investor bought 100 shares of CONCOR at the opening price and sold them at the closing price on November 6, 2023, they would have made a profit of ₹1,605.

In Summary

CONCOR’s recent financial performance, dividend declaration, leadership changes, and stock market performance underscore its significance in the Indian logistics industry. Investors and market observers are keenly watching these developments as they indicate CONCOR’s ability to navigate a complex economic landscape successfully.

Staying informed about such financial and corporate developments is crucial for investors looking to make well-informed decisions in the dynamic world of the stock market. CONCOR’s growth trajectory and financial strength further enhance its position as a notable player in the Indian logistics and supply chain sector, attracting both investors and industry enthusiasts.

FAQs

What was CONCOR’s consolidated net profit for the September quarter in 2023?

CONCOR reported a consolidated net profit of Rs 368.49 crore for the September quarter in 2023.

When is the record date for the interim dividend declared by CONCOR?

The record date for the interim dividend declared by CONCOR is November 16, 2023.

Who was appointed as the Director (International Marketing & Operations) at CONCOR in October 2023?

Priya Ranjan Parhi was appointed as Director (International Marketing & Operations) at CONCOR, effective from October 23, 2023.

What was the highest and lowest stock prices for CONCOR on NSE on November 6, 2023?

On November 6, 2023, on NSE, the highest stock price for CONCOR was ₹742.00, and the lowest price was ₹718.00.

What was the change in CONCOR’s stock price on NSE and BSE on November 6, 2023?

On November 6, 2023, CONCOR’s stock on NSE saw a positive change of +22.30 (3.12%), and on BSE, it experienced a positive change of +20.05 (2.79%).

Disclaimer

The information provided in this blog is for general informational purposes only and should not be considered as professional financial or investment advice. Always conduct thorough research and seek advice from a qualified financial advisor before making any investment decisions. The blog author and publisher are not responsible for any actions taken based on the information provided in this blog. Any reliance on the content is at your own risk. Remember that the financial markets can be volatile, and past performance is not indicative of ture results. The company mentioned in the blog may have undergone changes or developments that are not reflected here. Please verify the information with credible sources before making any financial decisions.

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