Confidence Petroleum advances on acquiring 25% stake in Blue Flame Industries

11 Sep 2018

Confidence Petroleum India is currently trading at Rs. 44.90, up by 0.80 points or 1.81% from its previous closing of Rs. 44.10 on the BSE.

The scrip opened at Rs. 45.00 and has touched a high and low of Rs. 45.25 and Rs. 44.10 respectively. So far 35761 shares were traded on the counter.

The BSE group 'XT' stock of face value Rs. 1 has touched a 52 week high of Rs. 57.00 on 07-Aug-2018 and a 52 week low of Rs. 18.00 on 11-Sep-2017.

Last one week high and low of the scrip stood at Rs. 47.70 and Rs. 40.50 respectively. The current market cap of the company is Rs. 1226.78 crore.

The promoters holding in the company stood at 53.82%, while Institutions and Non-Institutions held 1.15% and 45.03% respectively.

Confidence Petroleum India has acquired 25% stake in Blue Flame Industries. With this the company has attained the holding of 75% stake in Blue Flame Industries.

Blue Flame industries having cylinder manufacturing plant at Jharkhand has an installed capacity of 6 lakhs LPG cylinders per annum mainly for supply to PSU Oil companies.

Confidence Petroleum is an India-based manufacturer of liquefied petroleum gas (LPG) cylinders for domestic, as well as commercial use. The Company is engaged in the sale of cylinder, LPG bottling, and filling/DPT/transport.

Related Confidence Petroleum India Ltd. Links:

Confidence Petroleum Share Price

20.85 -0.10 (-0.48%) Sep 28, 11:27
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Peers
Company Name CMP
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Confidence Petroleum 20.85
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Sensex vs Confidence Petroleum
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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