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The first quarter of Container Corporation of India Ltd. was an Exim-led operating beat, supported by volume and realization growth.
The land license fee for the quarter was 1.13 billion rupees, which is consistent with the guide number of 4.5 billion rupees in 2010, but the current calculation shows that the LLF is as low as 3.8 billion rupees.
For 2010, Concor’s management maintains top-line growth of 12% and double the guidance of reported after-tax profits for 2009.
It has already announced plans to conclude a 35-year land lease agreement with India, with one-time payments fixed at between Rs 60 and 70 billion.
The LLF overhang has faded and freight rail has been a major long trigger, refocusing on businesses that support a modal shift to rail.
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ConcorQ1 Review-Operational Beats; Positive Surprise of Land License Fees: Dolat Capital
https://www.bloombergquint.com/research-reports/concor-q1-review-operational-beat-positive-surprise-on-land-licence-fee-dolat-capital ConcorQ1 Review-Operational Beats; Positive Surprise of Land License Fees: Dolat Capital