Stock in Focus: This small-cap company receives a contract worth Rs 172.22 crore!
The company has reduced its debt and the current debt of the company is Rs 49 crore which is just 5 per cent of its market cap.
Dredging Corporation of India Limited informed that Paradip Port Authority Marine Department Paradip awarded the prestigious Dredging Contract to the company that includes dredging on the approach channel, entrance channel, turning circle, docks and sand trap of Paradip Port Authority at an estimated cost of Rs 172.22 crore for the year 2023-24.
The Paradip Port Authority Dredging contract is a feather in the cap of Dredging Corporation of India Limited, Visakhapatnam which is aiming at a record highest-ever turnover of Rs 1000 crore & above for the financial year 2023-24.
On Wednesday, shares of Dredging Corporation surged 4.45 per cent to Rs 338 per share from its previous closing of Rs 323.60. The stock has a 52-week high of Rs 456.15 and a 52-week low of Rs 248.10.
Dredging Corporation of India Limited (DCI) is engaged in providing integrated dredging services to ports, Indian Navy and other maritime organizations in India.
Talking about the financials, this BSE Small-Cap company has a market cap of Rs 947 crore. The company reported amazing numbers in its Quarterly Results and annual results. Furthermore, the company has reduced its debt and the current debt of the company is Rs 49 crore which is just 5 per cent of its market cap.
Investors should keep an eye on this stock.