Dredging Corporation of India Ltd

	Dredging Corporation surges 6.2% in 2 days after strong Q4 earnings Wednesday, May 30, 2012
	Dredging Corporation of India rose 1.77% to Rs 250.55 at 15:10 IST on BSE, with the stock extending Tuesday's 4.43% rally triggered by the company reporting strong Q4 results.Meanwhile, the BSE Sensex was down 140.86 points or 0.86% to 16,297.72. On BSE, 19,927 shares were traded in the counter as against average daily volume of 19,721 shares in the past one quarter. The stock hit a high of Rs 256.65 and a low of Rs 246.10 so far during the day. The stock had hit a 52-week high of Rs 344 on 1 June 2011. The stock had hit a 52-week low of Rs 187.05 on 20 December 2011. The small-cap stock had underperformed the market over the past one month till 29 May 2012, falling 13.52% compared with the Sensex's 4.36% fall. The scrip had also underperformed the market in past one quarter, tumbling 19.29% as against Sensex's 7.4% fall. The company has an equity capital of Rs 28 crore. Face value per share is Rs 10. The Dredging Corporation of India (DCI) stock has rallied 6.27% in two trading sessions from Rs 235.75 on Monday, 28 May 2012, after the company reported strong Q4 earnings after market hours on 28 May 2012. The stock had risen 4.43% to settle at Rs 246.20 on Tuesday, 29 May 2012. DCI's net profit jumped 157.9% to Rs 28.96 crore on 76.5% growth in net sales to Rs 162.99 crore in Q4 March 2012 over Q4 March 2011. Net profit fell 66.6% to Rs 13.18 crore on 2.3% growth in net sales to Rs 468.27 crore in the year ended 31 March 2012 (FY 2012) over the year ended 31 March 2011 (FY 2011). The board of directors of the firm decided not to declare any dividend for FY 2012 due to the massive capital commitments underway towards procurement of three Trailer Suction Hopper Dredgers amounting to about Rs 1500 crore for which orders have been placed. State-owned Dredging Corporation of India (DCI) is the premier dredging company in the country. Dredging is the process of excavating/ or removing soil/or rock from under the water by a dredger. The main objective of dredging is the creation of deeper water to improve navigation. The Government of India (GoI) holds 78.56% stake in the firm.