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Cochin Shipyard shares jump 5% on ₹450 crore order win from Adani Ports

Cochin Shipyard shares jump 5% on ₹450 crore order win from Adani Ports
Shares of Cochin Shipyard Ltd. gained as much as 5% on Friday, December 27. This was after Adani Ports And Special Economic Zone Ltd. informed the exchanges that it has placed an order for eight tugs, all to be constructed by Cochin Shipyard.

With a total contract value estimated at ₹450 crore, these tugs are expected to begin delivery in December 2026 and continue until May 2028.


This initiative aligns with the government’s Make in India and Aatmanirbhar Bharat initiatives by boosting local manufacturing and enhancing selfreliance in the maritime sector, the company said in an exchange filing.

“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,” said Ashwani Gupta, Whole-time Director & CEO of Adani Ports.

Previously, Adani Ports contracted the construction of two 62-tonne bollard pull ASD (Azimuthing Stern Drive) tugs to Cochin Shipyard for Ocean Sparkle, 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.

Shares of Adani Ports are currently trading 0.42% lower at ₹1,238.90 apiece on the NSE. The stock has risen 18% so far in 2024.

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