BCL Industries Ltd shares surged on Monday, reaching a high of Rs 60.25, after the company announced significant ethanol order wins.
The company communicated this development through an early exchange filing on Monday.
BCL Industries along with its subsidiary company (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 November 1, 2023 to October 31, 2024 at their various locations across the country.”
As per the filing the overall order encompasses the supply of 8.2 lakh liters of ethanol, amounting to Rs 561 crore. Additionally, Svaksha Distillery has secured an order to supply 0.1 lakh liters of ethanol to Reliance Industries Ltd, with an order value of Rs 6.73 crore.
Following this announcement, BCL Industries’ shares surged over 11 percent to reach Rs 60.25 on Monday, with a total market capitalization exceeding Rs 1,500 crore.
