Dredging Corporation of India trades lower on the bourses

06 Feb 2018

Dredging Corporation of India is currently trading at Rs. 692.50, down by 29.20 points or 4.05% from its previous closing of Rs. 721.70 on the BSE.

The scrip opened at Rs. 670.00 and has touched a high and low of Rs. 706.65 and Rs. 650.10 respectively. So far 40,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 920.00 on 08-Jan-2018 and a 52 week low of Rs. 440.20 on 16-Feb-2017.

Last one week high and low of the scrip stood at Rs. 789.95 and Rs. 643.95 respectively. The current market cap of the company is Rs. 1,932.00 crore.

The promoters holding in the company stood at 73.47%, while Institutions and Non-Institutions held 9.84% and 16.69% respectively.

The Government has decided to sell off its entire public stake in Dredging Corporation of India (DCIL). This decision has been taken with an aim to upgrade technology, improve capability, infuse capital to buy necessary dredgers/equipments and instill experienced professional management to optimize operations of the company.

The Department of Investment and Public Asset Management (DIPAM) has obtained approval of the Government to disinvest 100% Government of India Equity in DCIL in one go through two-stage auction  process, with the advice of the Transaction Advisor.

Dredging Corporation of India is the premier dredging company in India and is the only PSU company offering dredging services. Established in 1976, the Company provides dredging and allied services to Ports, Indian Navy etc.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323