Education

Up 14% in 2 days! Clarity on Concor’s privatisation plan may support rally in near term

By Nick J Adam

To further improve the visibility on the annual LLF outgo, Concor has entered into a 35-year lease agreement for 24 terminals with the railways.

Synopsis

Concor currently uses 26 terminals. A dispute had cropped up last year after the railways demanded LLF of Rs 1,300 crore annually, which was around 2.5 times higher than Concor’s estimate.

ET Intelligence Group: The stock of Container Corporation (Concor) has gained nearly 14% in the two trading sessions to Tuesday following clarity on payment of land license fees (LLF) to Indian Railways. This is likely to accelerate Concor’s privatisation process thereby supporting the stock in the near term. The union government plans to sell a 30% stake in the company to strategic investors.

LLF is a rental for using terminals owned by the

BY

ET Bureau

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Nick J Adam 105178 posts