India Glycols Limited witnessed surge in its shares on December 19. The company stated that it had successfully secured orders amounting to Rs 1,164 crore for ethanol supply under the Ethanol Blended Petrol Programme.
Bharat Petroleum Corporation Limited (BPCL), Indian Oil Corporation Limited (IOCL), Hindustan Petroleum Corporation Limited (HPCL), Reliance Industries Ltd, and Nayara Energy Limited are the entities that awarded these orders, as per the regulatory filing by India Glycols.
According to the regulatory filing, Oil Marketing Companies (OMCs) placed an order for 12.8 crore liters, valued at Rs 896 crore, while oil companies placed an order for 3.75 crore liters, totaling Rs 268 crore. The combined order value, including both OMCs and oil companies, stands at approximately Rs 1,164 crore for about 16.55 crore liters of ethanol.
