Cochin Shipyard Ltd’s share price hit the upper circuit mid-session Friday after it received a massive ₹450 Crore from an Adani Group company.
Adani Ports and Special Economic Zone Ltd placed an order for eight 70-tonne bollard pull tugs with the Kochi-based shipbuilding company, the company disclosed in an exchange fiing.
The Gautam Adani-led company said the ₹450 Crore order is part of the “Make In India” initiative and would aid self-reliance in the maritime sector in the country.
The eight tugs would be delivered to Adani Ports by Cochin Shipyards between December 2026 and May 2028 and bring its total capacity to 15 tugs.
This is a repeat order as Cochin Shipyards has previously made tugs for Adani Ports that were delivered ahead of schedule.
Cochin Shipyards shares traded 5% higher at ₹1539.05 at the time of writing. Adani Ports shares are down 0.24% today.
The ship-building company, which is a key beneficiary of the retail euphoria in the defense sector, is down nearly 50% from its all-time high of ₹2,979.45 seen in July this year.
This news was first reported as an exchange filing for subscribers of Dzambhala Pro users.
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