Dredging Corporation rises 3% on disinvestment of govt stake

Shares of Dredging Corporation India gained 3 percent on Wednesday after company gets approval for disinvestment Government of India’s shares in the company.

Ministry of Shipping communicated in-principal approval of Cabinet for strategic disinvestment of 100 percent Government of India shares in company in favour of a consortium of four ports, namely Vishakhapatnam Port Trust (as the consortium leader), Paradip Port Trust, Jawaharlal Nehru Port Trust and Kandla Port Trust (now Deendayal Port Trust).

Visakhapatnam Port Trust would lead the consortium.

Government of India holds 73.47 percent of the paid up share capital of the company of Rs 28 crore.

Shares of Dredging Corporation India ended 2.95 percent higher at Rs 368.10 on the BSE.

The share touched its 52-week high Rs 920 and 52-week low Rs 286.60 on 08 January, 2018 and 09 October, 2018, respectively.

Currently, it is trading 59.22 percent below its 52-week high and 30.91 percent above its 52-week low.

For more market news, click here

Sign Up for Our Newsletters

Get notified of the best stories everytime.

You May Also Like

ICI reports offer insights into the characteristics of IRA investors

Posted by Jon Vogler, Senior Analyst, Retirement Research on Oct 5, 2018,…

Opinion | The Secret Lives of Central Bankers

A few years ago, a senior Japanese central banker let me in…

Our market views for the fourth quarter

Richard explains our updated equity and fixed income views for the last…

New tax reform bill includes retirement provisions

Posted by Jon Vogler, Senior Analyst, Retirement Research on Sep 20, 2018,…