BCL Industries shares hit life-time high on ethanol supply orders from OMCs
Stock market today: BCL Industries shares witnessed sharp upside move during Monday deals. BCL Industries share price today opened with a huge upside gap and went on to touch life-time high of ₹60.80 per share levels on NSE. While climbing to this nea peak, BCL Industries shares logged an intraday rise of over 12 per cent on Monday.
As per the latest stock market exchange filing, BCL Industries Ltd has received ethanol supply orders from oil manufacturing companies (OMCs). BCL Industries LTd said that ethanol supply order is worth ₹339 crore and it will complete its supply orders in two stages — from November 2023 to January 2024 and from February 2024 to April 2024. In these two stages, BCL Industries will supply 4.96 lakh KL of ethanol to the OMCs.
BCL Industries Ltd informed Indian stock market exchanges about the orders citing, "In terms of Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that the Company alongwith its subsidiary Company (M/s. Svaksha Distillery Limited) had participated in a tender floated by Oil Marketing Companies (OMCs) inviting various molasses and grain based distilleries for supplying Ethanol during Ethanol Supply Year (ESY) commencing from 01/11/2023 till 31/10/2024 at their various locations across the country." BCL Industries subsidiary Svaksha Distillery Limited has also received ethanol supply order worth ₹222 crore. so, net worth of this ethanol supply order bagged by BCL Industries and its subsidiary company is ₹561 crore ( ₹339 crore + ₹222 crore).
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