Dredging Corporation of India soars 4.5% after signing contract with Cochin Shipyard

16 Mar 2022 , 09:33 AM

Dredging Corporation of India Limited board accorded approval for signing of contract with Cochin Shipyard Limited, Cochin for construction of 12000 Cu.M Hopper Capacity Trailer Suction Hopper Dredger at a cost of about Euro 104 Million under Make in India – Atma Nirbhar Bharat Program.

The construction period is about three years. The contract with CSL will be signed on March 17, 2022.

At around 9.35 am, Dredging Corporation of India Ltd was trading at Rs332.05 per share up by Rs14.75 or 4.65% from its previous closing of Rs317.30 per share on the BSE.

The scrip opened at Rs331.90 and has touched a high and low of Rs336.95 and Rs327.50 respectively.