CONTAINER CORPORATION OF INDIA LTD. - Container Corporation of India Ltd reply to clarification sought by the exchange
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| 11 Nov 2014 | |
| The Exchange has sought clarification from Container Corporation of India Ltd with respect to news article appearing in Business Line on November 08, 2014 titled "Concor to invest Rs. 156 crore for 26% stake in Angul-Sukinda railway line"<br/> <br/>Container Corporation of India Ltd has replied stating "We would like to inform that CONCOR is a Navratna Company of Government of India with market capitalization at present of around Rs. 26,000 crores. It has many subsidiaries and joint ventures in the country, where it has done investments from time to time in the normal course of its business.<br/><br/>The investment in M/s. Angul Sukinda Railway Limited (ASRL) as reported in the news is related to CONCOR's investment in its regular business of creating infrastructure for transportation of containers by Rail and warehousing. This investment of Rs.156 crores for acquiring minority stake is for like any other routine expansion of infrastructure and development which CONCOR does for its business. Also considering the nature and volume of its business activities, the size of investment is small and this will not have any material impact on the business and operations of the Company." | |
| View all announcements for CONTAINER CORPORATION OF INDIA LTD. | Source: BSE India |
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