The shares of Cochin Shipyard surged 5% and reached the upper circuit at Rs 1,539.05 following the placement of an order for eight harbour tugs worth Rs 450 crore by Adani Ports and SEZ. Still, the stock is 94% below its peak of Rs 2,979.45.
Adani Ports’ shares, which were the biggest losers in the Nifty 50, were down 0.5% at Rs 1,237.20.
Eight cutting-edge harbour tugs will be purchased by Adani Ports and built by Cochin Shipyard Ltd. These tugs are anticipated to start delivery in December 2026 and last until May 2028, with a total estimated contract value of Rs 450 crore.
The program supports local production and increases self-reliance in the maritime industry, which is in line with the government’s Made in India and Aatmanirbhar Bharat programs.
“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.
Cochin Shipyard’s: Q2 Performance
In the second quarter of FY25, the company’s net profit stood at Rs 189 crore, up 4% year over year from Q2 FY24’s Rs 182 crore. Compared to the same quarter of the previous fiscal year, when it was Rs 1,011.7 crore, the ship maker’s operational revenue climbed 13% year over year to Rs 1,143.2 crore.
Cochin Shipyard Vs Nifty 50
Over the previous five trading days, Cochin Shipyard’s shares dropped 1.6%. In the last month, the return has been 2.3%. In the past six months, the stock has destroyed over 31% of investors’ capital.
In contrast, over the past five trading days, the benchmark index, the Nifty 50, has increased by 0.2%. The index has dropped 0.75% over the last six months and 1.7% over the last month.
