Government plans to divest all its stake in Dredging Corporation
DSIJ Intelligence / 19 Jun 2017
The government currently holds 73.47% stake in Dredging Corporation of India, which it is planning to divest through auction, which could fetch about Rs 1,400 crores to the exchequer.
The government currently holds 73.47% stake in Dredging Corporation of India, which it is planning to divest through auction, which could fetch about Rs 1,400 crores to the exchequer.
Besides, there is a proposal to sell 100% government holding in four unlisted companies viz. HLL Lifecare, Kamarajar Port, Indian Medicines & Pharmaceutical Corporation, Karnataka Antibiotics and Pharmaceuticals.
The government has budgeted to raise Rs 15,000 crore through strategic sale of PSUs this fiscal.
At Rs 715.85 at 1203 hours in an intraday basis, the share price of DCIL increased by 3.61%. Its stock price traded on new 52-week high at Rs 752.40 and witnessed spurt in volume by more than 2.73 times
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