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Confidence Petroleum soars on plan to introduce gas cylinder business in Chennai

15 Jul 2013 Evaluate

Confidence Petroleum India is currently trading at Rs. 2.30, up by 0.18 points or 8.49% from its previous closing of Rs. 2.12 on the BSE.

The scrip opened at Rs. 2.24 and has touched a high and low of Rs. 2.35 and Rs. 2.21 respectively. So far 32930 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 5.42 on 16-Jul-2012 and a 52 week low of Rs. 1.77 on 24-Jun-2013.

Last one week high and low of the scrip stood at Rs. 2.55 and Rs. 1.81 respectively. The current market cap of the company is Rs. 59.01 crore.

The promoters holding in the company stood at 46.32% while Institutions and Non-Institutions held 3.70% and 40.06% respectively.

Confidence Petroleum India has introduced its Go Gas commercial and domestic cooking gas cylinder business in Chennai, by launching 15-kg gas cylinders in Chennai for commercial and domestic segments. For this cylinder, commercial users will pay Rs 1,200 a cylinder and domestic users, Rs 1,000. Currently, it operates a chain of LPG auto gas stations and has presence in Nagpur.

The company is likely to introduce a wide range of cylinder sizes starting from 4 kg and going up to 21 kg. It will focus on any-time delivery and also introduce standby cylinders for people awaiting refill from public sector gas companies. It has three bottling plants in Tamil Nadu in Chinglepet, Madurai and Coimbatore. It has tied up with IOC-Petronas for long-term supply of LPG.

Confidence Petroleum Share Price

52.67 0.05 (0.10%)
17-Apr-2026 16:59 View Price Chart
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