Dredging Corporation of India Ltd
DREDGECORP

685.85

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683.95

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Buy
Reco. Price
Rs 552.00
We recommend BUY on the stock as we expect revenue to grow by ~14% in FY17E after de-growth for last two preceding years. This will be led by impetus of government on maintaining clean water bodies and development of inland waterways. The stock is currently trading at FY17E P/E of 15.7x and EV/EBITDA of 11.9x. (Target Price – Rs.594)
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50 DMA (.)
489.42
100 DMA (.)
443.33
200 DMA (.)
429.95
Weekly Range (.)
657.50
720.00
Monthly Range (.)
440.00
720.00
52 Weeks Range (.)
351.60
720.00
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