Cochin Shipyard shares hit 5% upper circuit as Adani gives big order
Cochin Shipyard share price jumped 5% to hit its upper circuit limit of Rs 1,532 on BSE on Friday after the defence PSU player got Rs 450 crore order from Adani Ports.
The Adani Group company said it has given Rs 450 crore order to Cochin Shipyard's subsidiary Udupi Cochin Shipyard to make eight state-of-the-art harbour tugs.
With a total contract value estimated at Rs 450 crore, these tugs are expected to begin delivery in December 2026 and continue until May 2028, significantly improving the efficiency and safety of vessel operations in Indian ports.
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Previously, Adani Ports contracted the construction of two 62-tonne bollard pull ASD (Azimuthing Stern Drive) tugs to Cochin Shipyard Ltd for Ocean Sparkle Ltd, both of which were delivered ahead of schedule and deployed at Paradeep Port and New Mangalore Port. The construction of three additional ASD tugs is currently underway, bringing the total order to 13 tugs, aimed at providing a younger fleet for efficient and reliable services in the port sector.
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