Stock Report

Dredging Corporation of India Signs Rs. 2,157 Crore Fuel Supply MoU with IOCL

Posted On : 2026-04-17 21:05:13( TIMEZONE : IST )

In a significant move reflecting resilience amid ongoing disruptions in the energy sector, Dredging Corporation of India Limited (DCI) marked a major milestone by signing a Memorandum of Understanding (MoU) with Indian Oil Corporation Limited (IOCL) for the supply of fuel to its dredging fleet.

The agreement, valued at Rs. 2,157.07 crores, is set for a period of five years and will ensure a steady and reliable fuel supply for DCI's operations across the country. This strategic partnership strengthens DCl's operational preparedness while ensuring continuity in critical maritime infrastructure services.

The MoU signing ceremony, held on April 16, 2026, was attended by senior dignitaries from both organizations. From IOCL, Shri K. John Prasad, Country Head (Institutional Business), HO; Shri Piyush Mittal, Executive Director & State Head (TAPSO); Shri Manoj D. Kudale, Chief General Manager (Institutional Business), TAPSO; and Shri Nishant Gulati, DIBH, Vizag DO, along with other officials, were present.

Representing DCI, Capt. S. Divakar, Managing Director & CEO; Capt. K.M. Choudhary, CHOO & GM (Business Development); and Shri B. Durga Prasad Babu, HOD (Materials), along with other officials, graced the occasion.

In the presence of the leadership from both organizations, the MoU was formally signed and exchanged. Shri B. Durga Prasad Babu, HOD (Materials), signed on behalf of DCI, while Shri Nishant Gulati, DIBH, Vizag DO, signed on behalf of IOCL.

This MoU reinforces the long-standing association between DCI and IOCL and reflects a shared commitment towards operational excellence, reliability, and supporting India's maritime infrastructure development. By securing long-term fuel supply arrangements during a period of energy uncertainty, DCI has further strengthened its capability to deliver uninterrupted dredging services for major ports and national projects.

The collaboration also highlights the crucial role played by public sector enterprises in ensuring stability and efficiency in key sectors of the economy, particularly during challenging global conditions.

Shares of Dredging Corporation of India Limited was last trading in BSE at Rs. 976.65 as compared to the previous close of Rs. 972.35. The total number of shares traded during the day was 20102 in over 1062 trades.

The stock hit an intraday high of Rs. 995.05 and intraday low of 964.30. The net turnover during the day was Rs. 19718657.00.