Dredging Corporation adds ~1% on bagging order worth Rs75 crore

Dredging Corporation Limited informed that the company has bagged the Gujarat Fisheries Dredging project of Mangrol Fishing Harbour worth Rs75 crore.

The company further stated that it has fixed an ambitious target of Rs1,000 crore for FY22-23.

Company stated in its filing, “During the visit of the Hon’ble Union Minister of Ports Shipping & Waterways Shri Sarbananda Sonowal to Visakhapatnam, the MD & CEO of DCIL Prof Dr. G.Y.V Victor has greeted the Hon’ble Union Minister & briefed that for the FY21-22 the company has achieved a turnover of Rs802 crore, which is the highest turnover achieved during the last 12 years.”

Dredging Corporation is currently trading at Rs311 up by Rs2.75 or 0.89% from its previous closing of Rs308.25 on the BSE. The scrip touched intraday high and low of Rs318 and Rs308.85 respectively.