New Delhi, Nov. 8 -- Shares of Container Corp. of India Ltd (Concor) had gained 30% in one month hitting a new 52-week high on 1 October following the news of a possible strategic divestment by the government. But this euphoria is now losing steam.
The stock has dropped 10% from the highs in October as investors began acknowledging the challenges in divestment, and also in earnings.
One warning on earnings came from the company itself when it cut its volume growth guidance for the current fiscal year to nil from the earlier projection of double-digit growth.
Export import (exim) container rail volumes, from which Concor derives much of its earnings, dropped 2.7% last quarter, which means they are down 1.9% in first half of the current fi...