In order to promote innovation and efficiency in logistics, Container Corporation of India announced that it has signed a Memorandum of Understanding (MOU) with Central Warehousing Corporation (CWC) in a strategic partnership.

The collaboration seeks to maximize supply chain management, improve customer service, and promote industry growth by utilizing CONCOR and CWC's unique capabilities.In order to achieve shared goals and provide seamless and affordable end-to-end logistics services, including First Mile Last Mile solutions, the collaboration will involve sharing infrastructure, technology, expertise, and resources. The ultimate goal of this collaboration is to lower the nation's logistics costs overall by providing its stakeholders with the best logistics solutions.

CONCOR has two strategic alliances and runs fifty-nine terminals throughout the nation. The company's main business is to use rail carriages to deliver containers inland from ports. The business also oversees warehouses and cold storage chains.

The combined net profit of the logistics solution providers increased 12.42% to Rs 330.74 crore in Q3 FY24 compared to Q3 FY23, driven by a 10.28% growth in operating revenue to Rs 2,210.57 crore.

The share dropped 1.24% and is now trading on the BSE at Rs 856.25