Container Corporation of India Ltd: Check CONCOR Share/Stock Price News Updates
The Container Corporation of India Limited is now owned by the Indian Railways, which is part of the Ministry of Railways of the Indian government.
Introduction of Concor: After being registered in March 1988 by the Companies Act, CONCOR had already taken over Indian Railways’ network of seven inland container depots (ICDs) when it first opened for business in November 1989. This was after CONCOR had been established.
Mission of Concor
Becoming an industry leader is one of CONCOR’s primary objectives, and the organization plans to achieve this objective with the support of its stakeholders and community partners. To achieve maximum income and growth via cooperative efforts with regional companies to provide logistical services that are timely, cost-effective, and efficient.
History of Concor
In 1966, India was first mentioned in foreign publications for the first time as a result of an effort made by the Indian Railway to containerize the transport of freight. Due to the vastness of India (almost 3,000 kilometers (1,900 miles) from North to South and East to West), rail travel is typically the most cost-effective solution for moving any kind of freight across medium and large distances in the nation.
Indian Railways started providing DSO containers for the carriage of domestic freight on its trains in 1966. This was a direct outcome of the success that containerized multi-modal door-to-door transport had in overcoming this problem.
Even though the first ISO container was processed in Kochi in 1973, it wasn’t until 1981 that the first ISO container was moved inland by Indian Railways to the first ICD in Bengaluru, which was also controlled by Indian Railways. This event took place even though the first ISO container was processed in Kochi in 1973.
The country’s capacity to handle containers increased as the number of ICDs increased to seven by the year 1988, and the concept of forming a proactive organization to supervise and control the growth of the sector gained popularity during this period as well. CONCOR is one of the Indian public sector undertakings that is available for sale.
It was originally anticipated that the privatization process, in which the Indian government sells 30.8% of its 54.8% shares, would be completed in the fiscal year 2021-2022; however, the completion date has been moved to the next fiscal year. This was Don Toto simplifying the privatization process.