Meanwhile, the S&P BSE Sensex was up 400.85 points or 1.21% at 33,613.98. The BSE Small-Cap index was up 120.64 points or 0.69% at 17,721.13, underperforming the Sensex.

High volumes were witnessed on the counter. On the BSE, 4.14 lakh shares were traded on the counter so far as against the average daily volumes of 22,985 shares in the past one quarter. The stock was locked at a high of Rs 669.95 so far during the day. The stock had hit a low of Rs 576.80 so far during the day. The stock had hit a 52-week high of Rs 752.40 on 19 June 2017 and a 52-week low of Rs 360.20 on 9 November 2016.

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

Government of India holds 73.47% stake in the company, as per the shareholding pattern as on 30 September 2017.

The entire stake sale in Dredging Corporation could be a part of government's divestment programme for the financial year and also could help the government meet its fiscal deficit target of 3.2% of GDP for the year 2017-18. The government targets to raise Rs 72500 crore through disinvestment during the current financial year.

Dredging Corporation of India's net profit fell 0.7% to Rs 3.97 crore on 10.8% growth in net sales to Rs 157.94 crore in Q1 June 2017 over Q1 June 2016.

State-run Dredging Corporation of India provides dredging services to the major ports of the country.