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Investing.com - JPMorgan has assumed coverage of Container Corp. of India (NS:CCRI) with a Neutral rating and a price target of INR590.00, according to a research note released Tuesday.
The investment bank views Container Corp. of India as a play on the eventual increase of rail share in Indian goods transportation from the current 18-20% to 40-45%, as well as rising containerization within logistics.
JPMorgan identifies the Western Dedicated Freight Corridor (WDFC) between Delhi and Mumbai as one of the biggest enablers of these trends, though the project has faced several delays with the latest completion date set for December 2025.
The firm notes that partial completion of the WDFC has not yielded any meaningful shift in rail transportation share, and Container Corp. of India has actually lost market share during this period.
While JPMorgan forecasts growth acceleration for Container Corp. of India, particularly once final connectivity to Mumbai’s JNPT port is established, it believes the company’s valuations have already re-rated in anticipation of these developments, limiting potential upside.
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