Shares of smallcap inventory BCL Industries rallied over 7% in commerce on Wednesday, February 19, after it acquired an order price ₹134.87 crore for the provision of ethanol to grease advertising corporations (OMCs).
The shares of BCL Industries traded within the inexperienced all through the session however witnessed a spike in the previous few minutes of the commerce following the order e-book replace.
Order particulars
The corporate knowledgeable exchanges in a submitting as we speak that BCL Industries Restricted together with its subsidiary Svaksha Distillery has been allotted with further amount of 23,054 KL of ethanol to be equipped in opposition to FCI rice as uncooked materials to OMCs. The overall order worth stands at ₹134.87 crore, the submitting confirmed.
Out of the overall order, BCL Industries will provide 14,302 KL (price ₹83.67 crore) and Svaksha Distillery will provide 8,752 KL (price ₹51.20 crore).
The corporate stated it had participated in a young floated by OMCs in January 2025 for the provision of ethanol at their numerous places throughout the nation.
The Authorities of India (GoI) and OMCs are aggressively selling the mixing of ethanol in motor spirit (petrol) with a view to scale back the carbon footprint and preserve overseas alternate by decreasing the import of crude oil.
The above order is along with the present order of 18,2485 KL acquired by the group within the month of October 2024.
Shares spike on order replace
Shares of BCL Industries spiked 7.64% to settle on the day’s excessive of ₹37.35 per share. Regardless of as we speak’s rise, the inventory trades 55% under its 52-week excessive of ₹84.20, hit in February final yr. In the meantime, the inventory’s 52-week low stands at ₹34.50, which it scaled yesterday.
The inventory has declined 55.8% within the final one yr, whereas it has misplaced 39% previously six months. Even on a one-month foundation, the efficiency has been dismal, with the inventory dropping 26% of its worth.
Learn all market-related information right here
Disclaimer: The views and proposals above are these of particular person analysts or broking corporations, not Mint. We advise buyers to examine with licensed specialists earlier than making any funding choices.
