The announcement was made after market hours on Wednesday, 5 March 2014.

Meanwhile, the S&P BSE Sensex was up 97.56 points or 0.46% at 21,374.42.

On BSE, so far 9,350 shares were traded in the counter as against average daily volume of 10,391 shares in the past one quarter.

The stock was volatile. The stock rose as much as 2.6% at the day's high of Rs 230 so far during the day. The stock rose 0.37% at the day's low of Rs 225 so far during the day. The stock had hit a 52-week high of Rs 332.40 on 20 August 2013. The stock had hit a 52-week low of Rs 152.25 on 31 July 2013.

The stock had underperformed the market over the past one month till 5 March 2014, declining 0.02% compared with the Sensex's 5.01% rise. The scrip had also underperformed the market in past one quarter, sliding 18.22% as against Sensex's 1.52% rise.

The small-cap company has equity capital of Rs 28 crore. Face value per share is Rs 10.

Dredging Corporation of India said that a new Trailer Suction Hopper Dredger DCI Dr. XXI with 5500 Cu.M Hopper capacity has been delivered at Netherlands on 23 January 2014 and the vessel was inaugurated and joined the fleet on Wednesday, 5 March 2014. With the addition of this dredger, the fleet of Trailer Suction Hopper Dredgers of the company is increased to twelve from the present eleven. The other fleet consists of three Cutter Suction Dredgers and one back hoe dredger.

Dredging Corporation of India's net profit spurted 318.4% to Rs 15.02 crore on 23.3% growth in net sales to Rs 206.89 crore in Q3 December 2013 over Q3 December 2012.

State-owned Dredging Corporation of India 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 (as per the shareholding pattern as on 31 December 2013).