The shares of Cochin Shipyard Limited (CSL) were locked in at a 5% upper circuit at ₹1,539.05 after the company received an order worth ₹450 crores from Adani Ports and SEZ Limited (APSEZ).
Cochin Shipyard Limited (CSL) said that the Adani Group company placed its largest ever order for the construction of eight harbour tugs. Delivery of the harbour tugs is expected between December 2026 to May 2028
In an exchange filing, Adani Ports & SEZ Limited (APSEZ) said, "Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest integrated transport utility company, is pleased to announce the procurement of eight state-of-the-art harbour tugs, all to be constructed by Cochin Shipyard Ltd."
The Adani Group company’s initiative is in line with the government’s push for “Make in India” and “Aatmanirbhar Bharat” as it boosts local manufacturing and self-reliance in the maritime sector.
Ashwani Gupta, Whole-time Director & CEO of Adani Ports & SEZ Limited (APSEZ) said, "This collaboration to procure from Cochin Shipyard Ltd signifies our commitment to enhancing maritime infrastructure in India and demonstrates our confidence in our nation's PSUs. By leveraging local manufacturing capabilities, which are world-class, we aim to contribute to the 'Make in India' initiative while ensuring that our operations meet international standards of safety and efficiency."
Earlier, Adani Ports & SEZ Limited (APSEZ) had placed an order for the construction of two 62-tonne bollard pull ASD (Azimuthing Stern Drive) tugs to Cochin Shipyard for Ocean Sparkle. These were delivered ahead of schedule and deployed at Paradeep Port and New Mangalore Port. Additionally, Cochin Shipyard is currently carrying out the construction of three additional ASD tugs. This brings the total order of tugs to 13 and is aimed at providing a younger fleet for efficient and reliable services in the port sector.
"Our collaboration with Cochin Shipyard Ltd demonstrates our confidence in our nation's PSUs. By leveraging local manufacturing capabilities, which are world-class, we aim to contribute to the ‘Make in India’ initiative while ensuring that our operations meet international standards of safety and efficiency," Gupta added.
Cochin Shipyard Limited (CSL) is a 'Miniratna' public sector undertaking (PSU) that constructs vessels, repairs and refits all types of vessels and carries out upgradation of ships, periodical lay-up repairs, and life extension of ships.
At 3:15 PM on Friday, the shares of Cochin Shipyard (CSL) Limited are still locked in a 5% upper circuit at ₹1,539.05 per share as compared to the previous close of ₹1,465.80 per share on the National Stock Exchange (NSE).
On the other hand, the shares of Adani Ports & SEZ Limited (APSEZ) trade 0.79% lower at ₹1,234.15 per share as compared to the previous close of ₹1,243.95 per share on the National Stock Exchange (NSE).
Summary:
Cochin Shipyard Limited stocks stuck at 5% upper circuit on receiving order worth ₹450 crores from Adani Ports & SEZ Limited
For android only