Cochin Shipyard's stock has reached its upper limit at 1532.10, rising by 72.95 or 5% from its previous close of 1459.15 on the Bombay Stock Exchange (BSE). The stock opened at 1470.00 and fluctuated between 1532.10 and 1445.00 during the day, with 14,242 shares traded so far.

This BSE group 'T' stock, with a face value of 5, had earlier touched a 52-week high of 2977.10 on July 8, 2024, and a low of 613.03 on January 8, 2024. Over the last week, the stock ranged between 1542.00 and 1445.00, with the company's current market capitalization standing at 40,306.61 crore. Promoters hold a majority stake of 72.86%, while institutions and non-institutional investors own 6.84% and 20.30%, respectively.

The surge follows a significant development: Udupi Cochin Shipyard (UCSL), a subsidiary of Cochin Shipyard, has secured an order from Ocean Sparkle, an Adani Group company, to construct eight Azimuth Stern Drive (ASD) tugs with a 70-tonne bollard pull. This order adds to three similar tugs already under construction, making it a total of 11 tugs for Ocean Sparkle.

These 33-meter-long tugs feature a beam of 12.2 meters, a draft of 4.2 meters, and are powered by two 1838 kW main engines and 2.7-meter propellers from Niigata IHI Power Systems Co., with deck equipment supplied by W-Rig Limited. Designed by Robert Allan, a global leader in tugboat designs, the vessels adhere to the Government of India’s Approved Standard Tug Design and Specifications under the Atma Nirbhar Bharat initiative.

Udupi-CSL has already delivered four tugs under this initiative, including two 62-tonne bollard pull tugs for Ocean Sparkle in 2023 and two 70-tonne tugs for Polestar Maritime in 2024. Cochin Shipyard continues to solidify its position as India’s leading modern shipbuilding and repair facility.