The company was incorporated as ‘Navkar Corporation Limited’ on September 29, 2008 as a public limited company under Part IX of the Companies Act, 1956 (“Companies Act 1956”), with the Registrar of Companies, Maharashtra at Mumbai (the “RoC”). The company is promoted by Shantilal Jayavantraj Mehta and Nemichand Jayavantraj Mehta who have several years of experience in the container freight business and have established business relationships with shipping lines, logistical service providers and customs house agents.
The company is a Container freight stations (CFSs) operator in India with three CFSs, Ajivali CFS I, Ajivali CFS II at Ajivali and Somathane CFS at Somathane, which are strategically located in Panvel, Maharashtra, in close proximity to the JN Port, the largest container port in India. The company has a private railway freight terminal (PFT) which allows it to load and unload cargo from container trains operating between its Somathane CFS and the JN Port and to transport domestic cargo to and from inland destinations on the Indian rail network.
The company can handle cargo at controlled temperatures at its temperature controlled chamber and through its 92 Reefer plug points at its CFSs. The company is also certified to handle hazardous cargo at its Ajivali CFS II and its Somathane CFS. It provides cargo storage facilities at its CFSs which include a buffer yard and warehouses for the storage of cargo. The company also offers services such as packing, labelling/bar-coding, palletizing, fumigation and other related activities at its warehouses and it customize its offerings for its customers. The company’s warehouses are spread over an aggregate area of 500,000 sq. ft., which includes a bonded warehouse of 60,782 sq. ft. and an area of 118,000 sq. ft. designated for the consolidation of less than container load (LCL) containers. The company’s CFSs also have a customs facility for the examination and clearing of cargo and its Somathane CFS has a unit for the inspection and approval of agricultural cargo set up by the plant and quarantine authorities of the Ministry of Agriculture, Government of India. The company also provides services for the repair and maintenance of containers and the storage of empty containers at its CFSs.
The company works with shipping lines, logistical service providers and customs house agents, importers and exporters. The leading shipping lines and customs house agents that it work with include, United Arab Shipping Agency Company (India), NYK Line (India), Hyundai Merchant Marine India, Evergreen Shipping Agency (India) and S Ramdas Pragji Forwarders. CFSs and inland container depots (ICDs) are set up for the purposes of in-transit container handling, stuffing, de-stuffing, including temporary storage and the examination and assessment of export and import (“EXIM”) cargo and are an integral part of the logistics chain in relation to the transportation of containerized cargo. A CFS is an off-dock facility located near gateway ports which helps in decongesting the port by shifting cargo and customs related activities outside port areas, while an ICD is located in the hinterland away from gateway ports acting as a hub for container cargo from different ports and used for the same functional purposes as a CFS.
I don't think this is valid.... technically handle should be maximum of 30percent of the cup... and here it is 50percent of cup...
Tradernawab
⋅
@Silent_Wraith, do not follow exact levels . its not an absolute science . go behind the logic, such patterns are indication of consolidation , after consolidation period finished , look for volume gathering near handle region . follow the price action ( what it is indicating ) . if breakout with volume is coming then its coming , we will not wait for exact patterns to be formed.
blissfulGuest29592
⋅
@Tradernawab - also to add recent volumes are very good even around > 50 .. once the lock down is opening up there is huge demand for many items to be send out .. all over there is queue to book shipment .. so this may pick up well ... also financials are good .