Despite the company’s cautious response, investors reacted positively to the possibility of a major collaboration with the South Korean shipbuilding giant. 
| Photo Credit:
THULASI KAKKAT

Cochin Shipyard Ltd (CSL) shares surged 5.47 per cent to ₹1,792.40 at 11.22 am on Thursday as the company responded to media reports about a potential collaboration with HD Hyundai for a ₹10,000 crore project.

In a regulatory filing to stock exchanges on May 14, CSL clarified that it has not issued any statement regarding the rumoured partnership that was reported by media on May 13. The company acknowledged it is “evaluating strategic possibilities with multiple entities which are at various stages,” but maintained there is no material event requiring disclosure under SEBI regulations at this time.

The shipbuilder suggested that recent media reports “may be based on threading pieces of information” rather than official company announcements.

CSL’s statement referenced the Government of India’s Maritime India Vision 2030 and Maritime Amrit Kaal Vision 2047, noting that central and state governments are working with stakeholders to promote shipbuilding and ship repair activities in alignment with these initiatives.

Despite the company’s cautious response, investors reacted positively to the possibility of a major collaboration with the South Korean shipbuilding giant. The stock gained ₹93.00 during trading on the National Stock Exchange.

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Published on May 15, 2025