Buy Container Corporation of India, target price Rs 715: Yes Securities

Yes Securities has buy call on Container Corporation of India with a target price of Rs 715. The current market price of Container Corporation of India is Rs 679.9.

Time period given by analyst is Intra Day when Container Corporation of India Ltd. price can reach defined target.
Container Corporation of India Ltd., incorporated in the year 1988, is a Large Cap company (having a market cap of Rs 41425.92 Crore) operating in Logistics sector.


Container Corporation of India Ltd. key Products/Revenue Segments include Freight, Other Services, Other Operating Revenue and Export Incentives for the year ending 31-Mar-2020.

Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 1876.69 Crore, down -7.55 % from last quarter Total Income of Rs 2029.91 Crore and up 49.96 % from last year same quarter Total Income of Rs 1251.50 Crore. Company reported net profit after tax of Rs 251.22 Crore in latest quarter.

Investment Rationale
The stock has resumed its uptrend after making a double bottom and is now on the verge of a breakout from a W pattern. Further, volumes have been good in the recent up move, confirming the bullishness in the stock. RSI is also suggesting bullishness going forward.

Promoter/FII Holdings
Promoters held 54.8 per cent stake in the company as of June 30, 2020, while FIIs and DIIs held 40.4 per cent and public and others 4.6 per cent.