Stock up over 10 per cent in just 1 day: This small-cap company bags new orders worth Rs 1,164 crore from BPCL, IOCL, HPCL, Reliance Industries & Nayara Energy!
The stock is up by 55 per cent from its 52-week low of Rs 512.35 share.
Today, one of the Top Gainers on BSE & NSE, shares of India Glycols Ltd gained 13 per cent to an intraday high of Rs 794 per share from its previous closing of Rs 702.25. At the closing bell, shares of the company were trading at Rs 761.35 per share, up 8.23 per cent with a spurt in volume by more than 23.74 times on BSE.
India Glycols Ltd informed you that the company has been allocated quantities through tender(s) participation for the supply of 16.55 crore litres of ethanol with an estimated value aggregating to Rs 1,164 crore under the Ethanol Blended Petrol Programme (EBPP) during the ethanol supply year from November 01, 2023, till October 31, 2024. The company has been allocated quantities for supplying ethanol from its grain-based ethanol plants (Kashipur and Gorakhpur) from various oil marketing companies (OMCs) and oil companies.
Bharat Petroleum Corporation Limited (BPCL), Indian Oil Corporation Limited (IOCL) and Hindustan Petroleum Corporation Limited (HPCL) are hereinafter collectively referred to as OMCs whereas Reliance Industries Ltd and Nayara Energy Limited are hereinafter collectively referred to as oil companies. OMCs placed a total of 12.80 crore litres of ethanol worth Rs 896 crore whereas oil companies placed a total of 3.75 crore litres of ethanol worth Rs 268 crore.
Established in 1988, India Glycols Ltd is engaged in the manufacturing of green technology-based bulk, speciality & performance chemicals, and natural gums, spirits, industrial gases, sugar, and nutraceuticals.
The company has a market cap of over Rs 2,300 crore. The stock is trading at 1.23 times its book value. The stock is up by 55 per cent from its 52-week low of Rs 512.35 share and investors should keep an eye on this Small-Cap scrip.
Disclaimer: The article is for informational purposes only and not investment advice.
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