Ethanol maker BCL Industries shares zoom over 11% as company receives orders worth Rs 561 crore
BCL Industries share price NSE, BSE: The share price has zoomed after the firm was selected to supply ethanol worth Rs 561 crore to Oil Marketing Companies (OMCs) during Ethanol Supply Year (ESY).
BCL Industries share price NSE, BSE: Share of ethanol maker BCL Industries jumped around 11.41 per cent to hit an intraday high of Rs 60.25 on Monday. The scrip had closed at Rs 54.08 in the last trading session. The share price zoomed after the firm was selected to supply ethanol worth Rs 561 crore to Oil Marketing Companies (OMCs) during Ethanol Supply Year (ESY).
The counter has outperformed the sector by 5.64 per cent. The company, with a market capitalisation of Rs 1,494.80 crore, has a 52-week range of Rs 60.85 - Rs 28.60 on BSE.
Last seen, the counter held firmly in green and was trading at Rs 58.73. As many as 2.33 lakh shares of the company changed hands at an average traded price of Rs 58.01 at the time of writing the report.
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Meanwhile, the company has informed the exchange that it, along with its subsidiary Svaksha Distillery, has received an order for a supply of 4.96 KL during the Ethanol Supply Year (ESY) commencing from 01/11/2023 till 31/10/2024.
Svaksha Distillery Limited has received the order for supply of 1.44 KL during the period Nov 23 to Jan 24 and 1.80 KL during the period Feb 24 to April 24 which translates into 3.24 lac litres worth Rs 222 crores.
Earlier, the company announced that the net profit in Q2 stood at Rs 19.67 crore. The firm had logged a loss of Rs 81 lakh in the year-ago period.
The company said that the profit was driven by a rise in total income.
The total income in the quarter came in at Rs 482.72 crore, which is up from Rs 455.24 crore that it had posted in the same quarter a year ago.
BCL Industries is the only company in India and the South Asian region to have a forward and backward integrated ethanol plant.
Earlier in October, BCL Industries had announced to split the company's equity shares. The face value of each equity share of the company was split from Rs 10 to Re 1.
12:39 PM IST