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ICICI Securities Report
We believe road-to-rail intermodal shift, given renewed Indian Railways' thrust to capture road traffic, will drive CY21 discourse.
Given so much investment (per annum spend has been augmented from Rs 450 billion to Rs 1,600 billion) in freight intensive corridors for Indian Railways definitely warrants a look at rail-based players like Container Corporation of India Ltd. and Gateway Distriparks Ltd.
Road consolidation theme didn't play out as expected in CY20. Yet the pressure on road will intensify once Dedicated Freight Corridor commissions (expected on June 22).
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