The Board of Directors of Dredging Corporation of India Ltd at its meeting held on May 28, 2012, considering the massive capital commitments underway towards procurement of three Trailer Suction Hopper Dredgers amounting to about Rs. 1500 Cr., for which orders have been placed and in the interest of the future growth of the Company, the Board of Directors did not recommend dividend for the year 2011-12.
The Dredging Corporation of India Ltd stock was trading at Rs.247.20, up by Rs.11.45 or 4.86%. The stock hit an intraday high of Rs.248.90 and low of Rs.241.20.
The total traded quantity was 13939 compared to 2 week average of 6673, according to equitybulls.com.
About DCI
The Head Office of Dredging Corporation of India is strategically located on the eastern seaboard of India at Visakhapatnam. DCI helps to ensure the continuous availability of the desired depths in shipping channels of the major and minor ports, navy, fishing harbours and other maritime organisations.
The horizons of dredging activities are fast expanding worldwide, and its services are increasing in demand and put to use in the areas of environmental protection, tourism, flood control, irrigation, power generation, port development, mining, reclamation, laying of off-shore pipelines and so on.
DC I – Towards a Bright Future
In order to meet the increasing demands of the future, DCI has ambitious plans to procure more Trailer suction hopper dredgers and cutter suction dredgers to increase its dredging capacity and to upgrade its existing fleet as well as expand its services in India and abroad.
With a dedicated team of professionally qualified and experienced personnel, who constitute the backbone of the organisation, DCI is fully geared to meet the any kind of dredging challenges in the time to come and is confidently looking forward for a bright future.
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Dredging Today Staff, May 29, 2012; Image: dredge-india