Shares of Dredging Corporation of India Ltd (DCIL) traded 2.12% higher at Rs 908.20 on Tuesday, November 4, extending gains from Monday’s rally. The stock has surged close to 20% across two sessions after the company announced signing MoUs worth Rs 17,645 crore during India Maritime Week 2025.
DCIL inked 22 MoUs with 16 organisations, covering dredging services, fleet expansion, construction of new dredgers, fuel partnerships, and technology collaborations. The agreements ensure multi-year dredging contracts with major ports including Visakhapatnam, Paradip, JNPA, Deendayal, Kolkata’s Syama Prasad Mookerjee Port, Chennai, Mumbai, and Cochin.
The company also entered strategic partnerships with Cochin Shipyard for vessel construction and repair, NMDC Abu Dhabi for global expansion, BEML for indigenisation of spares, IHC for dredger upgrades, IIT Chennai’s NTCPWC for survey and training programmes, and Indian Oil Corporation for fuel supply security.
DCIL currently operates 10 Trailer Suction Hopper Dredgers with 60,000 cubic metres capacity, servicing nearly 55% of India’s dredging demand. The MoUs support modernisation, capacity expansion, and growth into capital dredging and inland waterway projects, aligning with the government’s Maritime Amrit Kaai Vision and recently announced Rs 4,000 crore investment plan for DCIL.
As of 10:02 AM, the company’s market capitalisation stood at approximately Rs 25,430 crore, with the stock trading in the range of Rs 897.35 to Rs 954.40 for the day.
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