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Home > All news > Railways > CONCOR to gain from dedicated freight corridor : Motilal Oswal Research

CONCOR to gain from dedicated freight corridor : Motilal Oswal Research

April 12, 2024
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Mumbai - : Container Corporation of India Ltd. (CONCOR) will be a key beneficiary of the Dedicated Freight Corridor (DFC), which is likely to result in volume growth driven by a modal shift and enhanced operating efficiencies, according to stock brokerage firm Motilal Oswal Securities Ltd. (MOSL).

The DFC connects Dadri to Mundra. The company, according to the brokerage firm, could also benefit from the shift in volumes from Gujarat ports to JNPT after the entire DFC commissioning, which is likely to be completed in FY2026.

The 9MFY2024 domestic container volumes grew 11 percent YoY, while exim volumes rose 6 percent in the same period. While weak trade volumes due to the geopolitical headwinds hit the exim volumes, the brokerage believes that domestic operations will scale up due to the addition of new services/commodities for multiple sectors, and a strong network of terminals as well as strategic initiatives such as addition of FMCG-led cargo etc. The brokerage expects the company to report blended volumes of around  10 percent CAGR during the FY2024-26 period.

In Q3FY24, Concor reported a 9.5 percent YoY increase in net profit to Rs 333.67 crore in Q3FY24. Q3 revenues also rose 10.3 percent YoY to Rs 2,210.57 crore.

Disclaimer: This information has been collected through secondary research and Daily Shipping Times is not responsible for any errors in the same.

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