Dredging Corp surges 10%, Knowledge Marine hits 52-wk high; here's why

Don't want to miss the best from Business Standard?

Dredging Corporation, Knowledge Marine shares today

 

Shares of the dredging companies Dredging Corporation of India (DCIL) and Knowledge Marine & Engineering Works (KMEW) rallied up to 10 per cent amid heavy volumes. In comparison, the BSE Sensex was up 0.32 per cent at 85,465 at 12:10 PM.

 

Among individual stocks, DCIL was locked at the 10 per cent upper circuit at ₹879.80 on the back of a four-fold jump in trading volumes. A combined 0.82 million shares changed hands and there were pending buy orders for around 62,000 shares on the NSE and BSE.

 

Shares of KMEW hit a 52-week high of ₹3,069, as they rallied 9 per cent in intra-day trade. In the past one week, the stock has outperformed the market by surging 17 per cent, as compared to 1.4 per cent rise in the BSE Sensex.  CATCH STOCK MARKET LIVE UPDATES TODAY

Why are Dredging Corporation, KMEW stocks in focus today?

 

On Wednesday, November 19, 2025, KMEW informed stock exchanges that it received a Letter of Award from Visakhapatnam Port Authority for “Manning, Operation, Maintenance and Complete Technical Management of contractor Owned 01 No. ASTDS-GTTP Tug” valued at ₹384.33 crore including taxes for a period of 15 years.

 

This is the second order placed by Government of India, and it provesKMEW operational performance of its Green Tug Transmission Programme, reinforcing the company’s position at the forefront of the nation’s maritime decarbonization efforts.

 

This achievement positions the company to compete effectively in a rapidly expanding market estimated at approximately ₹12,000 crore, driven by national decarbonization goals and increasing demand for low emission harbor and coastal support vessels.

 

India launched the Green Tug Transition Program (GTTP), a pioneering initiative to decarbonize its maritime sector by replacing diesel-powered harbor tugs with zero emission alternatives. Under the first phase, running from October 2024 to December 2027, major ports in India will deploy green tugs powered by electricity and alternative fuels, significantly reducing carbon emissions and marine pollution. With an investment of ₹10,000 crore, the program positions India as a global leader in sustainable port operations and supports the nation's broader climate goals.

 

Meanwhile, DCIL 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) - functioning under the aegis of the Ministry of Ports, Shipping & Waterways (MoPSW).

 

In the coming years, the Indian dredging industry is well positioned to benefit from both economic growth and strategic policy support by the Government of India to promote infrastructure development. The Union Budget 2025- 26 allocated ₹ 25,000 crore for the Maritime Development Fund.  Furthermore, the Maritime India Vision, 2030 (MIV 2030) aims to transform major ports into transshipment hubs, expand port capacity and deepen port channels. These initiatives are anticipated to significantly boost the domestic dredging industry in the coming years, DCIL said in its FY25 annual report.