President of India-Backed Railway Transport Company Signs MoU with GAIL (India) Ltd
The stock is up by 19 per cent from its 52-week low of Rs 601.65 per share.
Container Corporation of India Ltd (CONCOR), Ministry of Railways and GAIL (India) Ltd, Ministry of Petroleum & Natural Gas, have signed a MEMORANDUM OF UNDERSTANDING (MoU) at New Delhi in the presence of Shri Sanjay Swarup, CMD CONCOR, Shri Sanjay Kumar, Director (Marketing), GAIL (India) Ltd and other senior officers from CONCOR and GAIL. The MOU was signed by Shri Ahmed Wasi Khan, GGM (P&S) representing CONCOR, and Shri Kapil Kumar Jain, ED (Marking -Retail LNG) representing GAIL
The primary objective of the MOU is to develop LNG infrastructure at various Terminals of CONCOR, on pan pan-India basis, to provide uninterrupted supply of LNG fuel for CONCOR’s road transportation requirements. CONCOR and GAIL shall also explore the feasibility of collaborating in other areas of mutual interest. Under this MoU, initially, an LNG station is planned to be installed at CONCOR’s Terminal at Khodiyar- Ahmedabad.
On this occasion, Shri Sanjay Swaroop, CMD/CONCOR, highlighted that the MoU is yet another step towards CONCOR’s commitment to provide sustainable logistics solutions to the customers for which the company has already established LNG station at MMLP Khatuwas, and procured a large fleet of 130 LNG trailers, which is resulting in reduction in corban foot prints in CONCOR’s day to day operations.
Shri Sanjay Kumar, Director (Marketing), GAIL (India) Ltd, appreciated CONCOR’s green initiatives and assured that GAIL is well-equipped and very keen to ally with CONCOR in the latter’s mission to provide environment-friendly logistics solutions to the customers.
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About the Company
Container Corporation of India Ltd. (CONCOR) was incorporated in March 1988 under the Companies Act and commenced operation from November 1989, taking over the existing network of 7 inland container depots from the Indian Railways. CONCOR is a market leader, having a widespread network of more than 60 terminals in India. In addition to providing inland transport by rail for containers, it has also expanded to cover management of ports, air cargo complexes and establishing cold chain. The company has developed multimodal logistics support for India's international and domestic containerization and trade.
The company’s 54.80 per cent stake is owned by the President of India and Life Insurance Corporation of India (LIC) owns a 9.92 per cent stake in the company as of March 2025.
The company has a market cap of over Rs 40,000 crore and has been maintaining a healthy dividend payout of 55 per cent. The stock is up by 19 per cent from its 52-week low of Rs 601.65 per share. Investors should keep an eye on this mid-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.