Shares of Cochin Shipyard Ltd rallied 4% on 13 May after the company announced a collaboration with Drydocks World to strengthen India’s ship repair and offshore manufacturing capabilities.

The partnership builds on a Memorandum of Understanding (MoU) signed in Mumbai last month during the visit of Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Deputy Prime Minister and Minister of Defence of the UAE, according to a statement from the shipyard on Monday.

The MoU was formalised in the presence of Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World, and Madhu S. Nair, Chairman and Managing Director of Cochin Shipyard Limited (CSL).

To advance the collaboration, a senior delegation from Drydocks World, headed by CEO Captain Rado Antolovic, visited CSL’s Kochi facilities on 1 and 2 May.

The corporation intends to deliver global best practices to India’s marine sector while also expanding capacity in line with the country’s national aspirations. The two parties intend to begin joint work at the ISRF in Kochi as a first step, with ambitions to expand collaboration throughout India.

Moreover, the company’s board of directors will meet on 15 May 2025 to consider the standalone and consolidated audited financial results for the quarter and year ended 31 March 2025, as well as the recommendation of a final dividend to equity shareholders for the fiscal year 2024-25.

At 11:53 am, the shares of Cochin Shipyard were trading 4.02% higher at Rs 1,582 on NSE.

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