DCI Jumps 10.4% to Day High on Rs 2,157 Cr IOCL Fuel MoU 

Shares of Dredging Corporation of India Limited hit an intraday high of Rs 1,078.00 on the BSE on 20 April, surging 10.4% from the previous close of Rs 976.65, after the company signed a memorandum of understanding with Indian Oil Corporation for fuel supply.

In an exchange filing, DCI disclosed the MoU with IOCL is valued at Rs 2,157.07 crore and covers a five-year period. The agreement will ensure a steady and reliable fuel supply for the company’s dredging fleet operating across the country.

The deal reinforces the long-standing association between DCI and IOCL, with the arrangement aimed at supporting uninterrupted dredging services for major ports and national projects. Earlier this month, Dredging Corporation also entered into a separate MoU with Colombo Dockyard PLC to collaborate on vessel maintenance, repair, retrofitting, and new shipbuilding projects.

On the financial front, DCI reported a net loss of Rs 24.63 crore in Q3 FY26, against a net profit of Rs 16.06 crore in Q3 FY25. Revenue from operations fell 14.9% year-on-year to Rs 276.08 crore in the same quarter.

At 12:02 am on BSE, shares were trading up by 5.44% at Rs 1,029.75, easing from the session high. The stock’s 52-week range stands at Rs 545.35 to Rs 1,245.90.

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