BNP Paribas adds Navaratna to its cap, through bulk deal on railway PSUs for Rs. 392 crore bet

BNP Paribas on Monday bought railway PSU major Container Corporation of India (CONCOR) through a bulk deal worth Rs. 392 crore share was bought. The French multinational bank through its affiliate BNP Paribas Financial Markets bought 72.18 lakh shares in Navaratna Company at Rs. 515.3 was acquired at the rate of

On the NSE, Friday’s Rs. The purchase price was up 0.8% from a closing price of 511.20. Its shares ended the day at Rs. 517.75, up 1.3% from the last close at Rs.

Shares of CONCOR have been lagging the market and the price has fallen 18% in the last 12 months. According to data sourced from Trendlyne, the shares are currently trading at Rs. 534.6 and Rs. is trading below its 50-day and 200-day simple moving average (SMA) of 561.1. It has shown high volatility with a 1-year beta of 1.3.

CONCOR’s consolidated net profit for the September quarter stood at Rs. 379 crore, which was Rs. 365 crore showing a growth of 3.6 percent. Total revenue for the quarter was Rs. 2,442 crore, compared to Rs. 2,417 crore is 1% higher than Rs.

Established in March 1988, Container Corporation commenced operations in November 1989 taking over the existing network of 7 ICDs of Indian Railways. The company claims to be the market leader with the largest network of 66 ICD/CFS (62 terminals and 4 strategic connections) in India.

Besides providing inland transport by rail for containers, it has also expanded to port management, air cargo complexes and establish cold-chains.

Also Read: Karnataka Bank bulk deal: Kamdev CMD Aditya Kumar Halvasia in quant MF-backed lender Rs. 71 crore stake bought

(Disclaimer: Recommendations, suggestions, opinions and views given by experts are their own. These do not represent the views of Economic Times.)