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Tuesday, Jan 20, 2004

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Expectations fuel interest in Concor

Our Bureau

Kolkata , Jan. 19

THE stock of state-owned inter-modal operator Container Corporation (Concor) has started attracting investor interest ahead of its board meeting on January 27, which will consider results for the quarter ended December 31, 2003.

The stock moved up to Rs 649.85 (Rs 625), with over a seven-fold increase in traded volumes.

According Mr Devarsh Vakil of Anagram Stockbroking, the market was expecting a better performance from the company in the third quarter compared with the second quarter, during which its net had declined by 7.9 per cent.

The logistic company has 51 inland container depots and has a monopoly in cargo movement in certain parts of the country.

The steadily increasing exim volumes, and the country's prospect of being a full signatory to the WTO by 2005 and some infrastructure projects to decongest goods movement will throw open new revenue streams for the company in the near future, according to industry insiders.

Among the recent developments that has positive bearing on the company's revenue growth are a rail link between Delhi and Chennai; a new ICD at Dadri near the Capital that is to come into operation in mid-2004; the emergence of Mundra and Pipavav ports on the west coast; proposed joint ventures for a cold chain; plan to transport rail rakes; and invest in rolling stocks to increase volumes.

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