Confidence Petroleum India is currently trading at Rs. 74.45, up by 1.40 points or 1.92% from its previous closing of Rs. 72.75 on the BSE.
The scrip opened at Rs. 72.80 and has touched a high and low of Rs. 75.00 and Rs. 72.80 respectively. So far 25410 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 95.40 on 22-Oct-2021 and a 52 week low of Rs. 37.20 on 19-Mar-2021.
Last one week high and low of the scrip stood at Rs. 75.00 and Rs. 67.40 respectively. The current market cap of the company is Rs. 2066.19 crore.
The promoters holding in the company stood at 58.95%, while Institutions and Non-Institutions held 6.27% and 34.78% respectively.
Confidence Petroleum India’s subsidiary -- Confidence Futuristic Energetech has acquired 50% stake in Maruti Koatsu Cylinders based at Halol, Gujarat. Maruti Koatsu Cylinders has an operational plant with an annual capacity to manufacture 1,80,000 (p.a) high pressure/CNG cylinders.
With the growing demand of CNG in the coming years this move will help to achieve further growth for the company. Further, this acquisition will provide competitive and locational advantage to the company. This move will further help to bring clean and green fuel CNG to every corner of the country.
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.
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