Dredging Corporation gains on bagging contract worth Rs 30.76 crore from Indian Navy

12 Feb 2018

Dredging Corporation of India is currently trading at Rs. 720.00, up by 11.00 points or 1.55% from its previous closing of Rs. 709.00 on the BSE.

The scrip opened at Rs. 730.05 and has touched a high and low of Rs. 739.00 and Rs. 715.05 respectively. So far 34,000 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. 759.60 and Rs. 643.95 respectively. The current market cap of the company is Rs. 2,016.00 crore.

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

Dredging Corporation of India (DCI) has secured contract worth Rs 30.76 crore for dredging of naval sites at Mumbai through competitive bidding. The dredging at Naval Sites at Mumbai Port is to be carried out by Deploying DCI Dredgers.

Earlier, Indian Navy had invited global tenders for Maintenance Dredging of Naval Sites at Mumbai Port for the year 2018-19. The company participated in the bidding process and stood as the lowest bidder with Rs 30.76 crore, thereby successfully bagging the work in its order book for next year.

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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