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Business News/ Markets / Stock Markets/  BCL Industries shares hit life-time high on ethanol supply orders from OMCs
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BCL Industries shares hit life-time high on ethanol supply orders from OMCs

BCL Industries and its subsidiary Svaksha Distillery has received ethanol supply order worth ₹561 crore

Stocks market today: BCL Industries shares today opened with big upside gap after the newsbreak of ethanol supply order to OMCs. (Pixabay)Premium
Stocks market today: BCL Industries shares today opened with big upside gap after the newsbreak of ethanol supply order to OMCs. (Pixabay)

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.

BCL Industries share news

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).

Stock market today

Amid bull trend at Indian stock market, key benchmark indices Nifty 50 and BSE Sensex today touched new life-time highs. Nifty 50 index today touche new peak of 20,624 mark whereas Sensex today touched 68,645 levels. After BJP's triumph in Rajasthan, Chhattisgarh and Madhya Pradesh, Indian stock market extended its particpatory rally on Monday and small-cap and mid-cap indices too climbed to a new peak.

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ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
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Published: 04 Dec 2023, 02:24 PM IST
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