Shares of Dredging Corporation of India Limited's (DCIL) shares hit 20% upper circuit today, as it announced that it has entered into 22 memoranda of understandings (MoUs)with 16 organisations worth ₹17645 crore during the India Maritime Week 2025 event held in Mumbai from 27 to 31 October 2025.

The PSU firm also bagged ₹4000 crore investment from the government for fleet modernization and capacity enhancement to strengthen India's dredging infrastructure.

These MoUs were entered with following ports and reputed organisation and industry majors:

Promoter ports - Visakhapatnam Port, Paradip Port, Jawaharlal Nehru Port, Paradip Port, Deenadayal Report and other major ports including Shyam Prasad Mukherjee Port, Cochin Port, Chennai Port, Mumbai Port for catering to their dredging requirement for next 2-S years.

Cochin Shipyard for construction and repair of dredgers as part of the modernization initiatives under Atman Nirbhar Bharat.

 NMDC, Abu Dhabi - for formation of JV for partnering with foreign major aiming at increasing operational- efficiency, and global competitiveness.

Bharat Earth Movers Limited (BEML) as part of Atma Nirbhar initiative, for indigenisation spares, construction of inland dredgers.

IHC- the industry major- as part of the initiative to modernise the existing dredgers so as to optimise their capacity utilisation.

National Technology Centre for Ports, Waterways & Coasts (NTCPWC) which has been set up under Centre of Excellence, IIT Chennai MOU for formation of JV for conducting Bathymetry Survey of all Ports (JV) as well as developing a Training Module relating for dredging which would ensure the country be ready with manpower for future dredging requirements.

The company also announced that the it also plans to procure a cutter uction dredger, a water injection dredger another trailing suction hopper dredger (TSHD) of lower capacity to do shallow draft dredging and also six beavers dredgers of different capacities for dredging in inland waterways/canals etc.

The shares soared 20% or ₹148.20 to trade at ₹889.35. The stock is still 18% lower than its 52-week high of ₹1085, and is 80% above its 52-week low of ₹495. The market capitalisation stands at ₹2490 crore.