This PSU stock hits 20% upper circuit as firm signs ₹17,500 crore worth of MoUs; all you need to know

DCI has entered into 22 Memoranda of Understanding (MoUs) with 16 organisations during the India Maritime Week 2025 event held in Mumbai last week.

The MoUs were entered into with major ports, including Visakhapatnam Port, Paradip Port, Jawaharlal Nehru Port, Deendayal Port, Shyama Prasad Mukherjee Port, Cochin Port, Chennai Port, and Mumbai Port, to cater to their dredging requirements over the next two to five years.

As part of its modernisation initiatives, DCI has also partnered with Cochin Shipyard for the construction and repair of dredgers and with Bharat Earth Movers Limited (BEML) for indigenisation of spares and construction of inland dredgers. Additionally, a collaboration with industry major IHC has been established to modernise the existing dredger fleet and enhance capacity utilisation.

Further, DCI also said that it has entered into MoUs with NMDC Abu Dhabi to form a joint venture aimed at boosting operational efficiency and global competitiveness and with the National Technology Centre for Ports, Waterways & Coasts (NTCPWC), under IIT Chennai, to jointly conduct bathymetry surveys of all ports and develop dredging-related training modules.

Agreements have also been signed with IOCL to ensure uninterrupted fuel and lubricant supply for DCI vessels and with Hindustan Shipyard Limited (HSL) for dry docking and dredger repairs.

Speaking on the matter, Dr M. Angamuthu, IAS, Chairman, Dredging Corporation of India Limited, and Chairperson, Visakhapatnam Port Authority and Mumbai Port, expressed heartfelt gratitude to the Hon'ble Prime Minister and the Ministry for their visionary support.

He stated that a landmark announcement was made by Prime Minister Narendra Modi during the inauguration of India Maritime Week 2025, unveiling transformative initiatives under the Maritime Amrit Kaal Vision.

Among these, a major highlight was the ₹4,000 crore investment dedicated to the modernisation of the Dredging Corporation of India for the construction of 11 dredgers, apart from the upgrading, automation and development of skilled manpower.

Angamuthu also stated that MOUs would help DCI to continue to cater to the dredging requirements, which is the lifeline for ports, upgrade the existing fleet, and spares and dredger construction under Atmanirbhar.

DCI operates under a consortium of four major ports — Visakhapatnam Port Authority (VPA), Paradip Port Authority (PPA), Jawaharlal Nehru Port Authority (JNPA), and Deendayal Port Authority (DPA) — all functioning under the aegis of the Ministry of Ports, Shipping & Waterways (MoPSW).

DCI share price

After opening at ₹780 per share on Monday, Dredging Corporation of India stock touched an intraday high of ₹889.35 apiece.

Over the last five trading days, shares of the firm have soared almost 43%. For a month’s period, it has increased 39%.

Since May 5, 2025, which is six months, the stock has climbed 51%. Year-to-date, it has increased 7%.

The company’s market capitalisation stands at ₹2,490.18 crore.

Shares of the firm had touched their one-year high of ₹1,085 apiece on November 7, 2024, while their 52-week low of ₹495 was hit on April 7, 2025.