Dredging Corporation up over 15% on reports of government stale sale plan

Dredging Corporation of India surged 16% to Rs 519, also its 52-week high on the BSE in early morning trade after a media report suggests that the government is looking to sell a majority stake in state-owned shipping company. “The government is looking to sell a 51% stake in staterun Dredging Corporation of India. A cabinet note has been prepared on this proposal and is being circulated among key ministries for comment,” the Economic Times report suggests quoting two senior government officials. Dredging Corporation is among the government's mini ratna public sector enterprises, in which it holds 73.47% stake at the end of December 2016 quarter. The stock erases its early gain and was trading 10% higher at Rs 489 on BSE at 09:39 am. The trading volumes on the counter jumped more than 10-fold with a combined 959,245 shares changed hands on BSE and NSE so far. Future & Option Trading Tips