Dredging Corporation of India Ltd has posted a net profit of Rs 240.90 million for the quarter ended December 31, 2002 as compared to Rs 343.30 million in the quarter ended December 31, 2001.
The government's offer for partial divestment of its stake in Dredging Corporation of India Ltd has been oversubscribed 5.45 times at end of bidding on Thursday.
Air India sale will give a boost to India's privatisation drive, the Economic Survey said on Monday, as it suggested redefining the public sector role in business enterprises to encourage private participation in all sectors. The government earlier this month handed over ownership rights in national carrier Air India to Tata Group for Rs 18,000 crore. The amount includes the takeover of the debt burden of Rs 15,300 crore and another Rs 2,700 crore in cash.
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