/ Profit Booking Ends Dredging Corp’s Rally, Stock Lowers 2% ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Wednesday, 22 March 2017

After the rally of Dredging Corporation of India for past couple of trading sessions, the stock on Wednesday dropped by 2% on an intraday basis owing to profit booking. The stock hit a high of Rs 696 per share; and a intraday low of Rs 679 per share until 12 pm on Wednesday.

On March 17, 2017, the stock had hit its 52-week high and on March 21, 2016 the stock had hit its 52-week low of Rs 330. The stock has underperformed the BSE Small Cap and Nifty Service Sector indices over a period of one year, posting returns of over 80% in the same time span.

The government as on December 31, 2016 holds 73.47% stake in the company. In the Q3 of 2016 the company has posted net profit of Rs 14.04 crore as compared to net loss of Rs 13.62 crore in Q3 of 2015. While, in Q3 December 2016, the net sales fell 13.7% to Rs 139.39 crore over Q3 December 2015.

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