/ Dredging Corp Hits New 52-Week High On Talks Of Divestment ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Monday, 19 June 2017

The government is planning to divest all its stake in Dredging Corporation of India (DCIL) through auction, which could fetch about Rs 1,400 crore to the exchequer. The government currently holds 73.47% stake in the company.

Besides, there is a proposal to sell 100% government holding in four unlisted companies viz. Kamarajar Port, HLL Lifecare, Indian Medicines & Pharmaceutical Corporation, Karnataka Antibiotics & Pharmaceuticals.

The government has provisioned to raise Rs 15,000 crore through strategic sales of PSUs this fiscal.

The share price of DCIL increased 3.61% at Rs 715.85 at 1203 hours on an intraday basis. The company's stock price traded on a new 52-week high at Rs 752.40 and witnessed a spurt in volume by more than 2.73 times.

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