Dredging Corporation of India jumps after MoU with Indian Oil Corp

Dredging of India

20/04/2026 06:13

** Shares of Dredging Corporation of India Ltd DRDG.NS rise as much as 10.6% to 1,078.5 rupees

** Dredging Corporation of India signs a Memorandum of Understanding (MoU) with Indian Oil Corporation Ltd IOC.NS for supply of fuel to its dredging fleet

** Adds, agreement valued at 21.57 bln rupees ($232.4 mln), is set for five years and will ensure a steady fuel supply for DRDG's ops across country

** Stock on track to gain for 6th straight day

** More than 1.1 mln shares traded as of 10:35 A.M. IST, 3.7x their 30-day moving avg

** DRDG last up 6%, trimming YTD losses to 2.2%

($1 = 92.8300 Indian rupees)

 (Reporting by Meenakshi Maidas in Bengaluru)

 ((meenakshi.maidas@thomsonreuters.com;))