SIMIC

NEW DELHI based Container Corp of India declared a fourth quarter year-on-year eight per cent net profit increase to INR279 crore (US$33.7 million) drawn on revenues of INR2,184 crore, up six per cent.

The central government is keen to sell its 30.8 per cent stake in the company. In September last year, to aid the disinvestment of the company, the Union Cabinet approved the lowering of the Railway Land Licensing Fee to 1.5 per cent from six per cent of the market value of the land.