Meanwhile, the S&P BSE Sensex was down 231.05 points or 0.83% at 27,700.59

On BSE, so far 31,590 shares were traded in the counter as against average daily volume of 34,995 shares in the past one quarter.

The stock hit a high of Rs 399 and a low of Rs 390.10 so far during the day. The stock had hit a 52-week high of Rs 490.90 on 10 September 2014. The stock had hit a 52-week low of Rs 341 on 12 June 2015.

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

Dredging Corporation of India announced after market hours yesterday, 19 August 2015, that the Government of India (GOI) has decided to sell up to 14 lakh equity shares, representing 5% of the total paid up equity share capital of the company through the separate window provided by the stock exchanges. The Offer for Sale (OFS) will be completed in a single trading session on Friday, 21 August 2015. The OFS will begin at 9:15 IST and conclude at 15:30 IST.

Retail investors will be allocated shares at a discount of 5% to the Cut-Off-Price in the OFS. The government will announce the floor price for the OFS after trading hours today, 20 August 2015.

The Government of India (GoI) currently holds 78.56% stake in Dredging Corporation of India (as the per the shareholding pattern as on 30 June 2015).

Dredging Corporation of India's net profit rose 49.9% to Rs 16.70 crore on 9.2% decline in net sales to Rs 167.46 crore in Q1 June 2015 over Q1 June 2014.

State-run Dredging Corporation of India provides dredging services to the major ports of the country. The company is a pioneer organization in the field of dredging and maritime development.