Buy Container Corporation of India, target price Rs 635: Nuvama Wealth

Nuvama Wealth brokerage has buy call on Container Corporation of India with a target price of Rs 635.The current market price of Container Corporation of India is Rs 593.25. Nuvama Wealth brokerage recommended to keep stop loss at Rs 570.

Container Corporation of India, incorporated in the year 1988, is a Large Cap company (having a market cap of Rs 36024.53 Crore) operating in Logistics sector.

Container Corporation of India key Products/Revenue Segments include Freight, Other Services, Other Operating Revenue for the year ending 31-Mar-2022.


Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 2110.98 Crore, up 3.94 % from last quarter Total Income of Rs 2030.94 Crore and up 5.86 % from last year same quarter Total Income of Rs 1994.18 Crore. Company has reported net profit after tax of Rs 288.30 Crore in latest quarter.

The company’s top management includes Mr.V Kalyana Rama, Mr.Sanjay Swarup, Mr.Manoj Kumar Dubey, Mrs.Chandra Rawat, Mr.Pradip K Agrawal, Mr.Chesong Bikramsing Terang, Mr.Kedarashish Bapat, Mr.Satendra Kumar. Company has S N Nanda & Co. as its auditors. As on 31-12-2022, the company has a total of 61 Crore shares outstanding.

Investment Rationale
Correction arrested as indicated by a bullish reversal candle stick with a positive divergence on RSI.

Promoter/FII Holdings
Promoters held 54.8 per cent stake in the company as of 31-Dec-2022, while FIIs owned 24.09 per cent, DIIs 17.43 per cent.