This PSU stock has zoomed 104% in 6 months; hits over 16-year high

Dredging Corporation of India hit an over 16-year high of Rs 1,130.55 as they were locked in the 10 per cent upper circuit on Wednesday

Shares of Dredging Corporation of India (DCI) hit an over 16-year high of Rs 1,130.55 as they were locked in the 10-per cent upper circuit on the BSE on Wednesday at 09:26 AM. This comes after the company won a five-year contract worth Rs 2,015.88 crore from Syama Prasad Mookerjee Port Authority (SMPA) for maintenance dredging works in the Hooghly Estuary.

Maintenance dredging is crucial for ensuring the navigability of the shipping channel, thereby facilitating smooth and efficient maritime operations in the region.

The Hooghly Estuary is a vital waterway for maritime trade, and maintaining its depth is essential for the safe