Container Corp hits new high

Container Corporation of India (CCI) hit a new high today at Rs.1415, with profit booking coming in at that level and the stock is at Rs.1400, up 2%.

The stock is currently recommended by many research houses and the various reports, urging investors to buy the stock has pushed up the price. Apart from the strong fundamentals, the company is slated to reap big benefits once the dedicated freight corridor is completed, which in turn, for CCI would mean increased demand for its services. With 75% market share, the company has a virtual monopoly in the sector and the icing on the cake – is profit making and debt free.