Dredging Corp. of India Report By Karvy

Dredging Corp. of India is expected to sustain its growth momentum driven by visibility for revenue growth through the upcoming port projects and stable base business helping Dredging Corp. of India to sustain leadership in the dredging market in India. At CMP Rs.387, Dredging Corp. of India is trading at 17x FY17E EPS, we recommend a BUY with a target price of Rs.450 representing 19.6x FY17E EPS with an upside potential of 16% in 9-12 months.

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