Dredging Corporation of India Ltd Share Price – NSE /  BSE

Miscellaneous, Small Cap

Net loss of Dredging Corporation of India reported to Rs 33.51 crore in the quarter ended September 2024 as against net profit of Rs 16.77 crore during the previous quarter ended September 2023. Sales rose 3.40% to Rs 204.50 crore in the quarter ended September 2024 as against Rs 197.77 crore during the previous quarter ended September 2023.

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Dredging Corporation of India will hold a meeting of the Board of Directors of the Company on 13 November 2024.

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Dredging Corporation of India announced that the Annual General Meeting (AGM) of the company will be held on 27 September 2024.

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The domestic equity benchmarks continued to trade with minor gains in early afternoon trade. The Nifty traded above the 24,350 mark after hitting day’s low of 24,212.10 in morning trade. IT shares extended gains for the second consecutive trading session.

At 12:30 IST, the barometer index, the S&P BSE Sensex, was up 150.84 points or 0.19% to 79,856.75. The Nifty 50 index rose 23.65 points or 0.10% to 24,391.15.

In the broader market, the S&P BSE Mid-Cap index fell 0.25% and the S&P BSE Small-Cap index added 0.38%.

The market breadth was negative. On the BSE, 1,891 shares rose and 2,006 shares fell. A total of 145 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, advanced 3.21% to 15.83. The Nifty 29 August 2024 futures were trading at 24,445.10, at a premium of 53.95 points as compared with the spot at 24,391.15.

The Nifty option chain for the 29 August 2024 expiry showed maximum Call OI of 38.8 lakh contracts at the 25,000 strike price. Maximum Put OI of 48.3 lakh contracts were seen at 24,000 strike price.

Buzzing Index:

The Nifty IT index rose 0.61% to 39,280.75. The index added 2.16% in the two consecutive trading sessions.

Infosys (up 1.45%), LTIMindtree (up 0.81%), HCL Technologies (up 0.4%), Tech Mahindra (up 0.07%) and Tata Consultancy Services (up 0.06%) added.

On the other hand, L&T Technology Services (down 0.81%), Mphasis (down 0.76%) and Coforge (down 0.74%) turned lower.

Stocks in Spotlight :

Dredging Corporation of India (DCIL) slipped 3.25% after the company’s standalone net loss stood at Rs 31.40 crore in Q1 FY25 as compared with a net profit of Rs 15.15 crore in Q1 FY24. Revenue from operations tumbled 45.73% in Q1 FY25 as against Rs 277.89 crore reported in the corresponding period last year.

Honasa Consumer (Mamaearth) fell 4.20%. The company reported a consolidated net profit of Rs 40.25 crore in Q1 FY25, up 62.86% as against Rs 24.72 crore recorded in Q1 FY24. Revenue from operations jumped 19.28% to Rs 554.06 crore in Q1 FY25 as against Rs 464.49 crore recorded in the corresponding quarter last year.

Mishra Dhatu Nigam (MIDHANI) slipped 5.05% after the company's standalone net profit tumbled 72.44% to Rs 5.11 crore in Q1 FY25 as against Rs 18.54 crore posted in Q1 FY24. Revenue from operations was at Rs 163.45 crore in Q1 FY25, down 12.93% as compared with Rs 187.72 crore posted in Q1 FY24.

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