Confidence Petroleum jumps on receiving license for commercial operation for CNG Stations at Bangalore
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Confidence Petroleum India is currently trading at Rs. 58.05, up by 2.40 points or 4.31% from its previous closing of Rs. 55.65 on the BSE.
The scrip opened at Rs. 54.55 and has touched a high and low of Rs. 59.60 and Rs. 54.25 respectively. So far 138476 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. 48.35 on 16-May-2022.
Last one week high and low of the scrip stood at Rs. 59.75 and Rs. 50.85 respectively. The current market cap of the company is Rs. 1648.69 crore.
The promoters holding in the company stood at 59.53%, while Institutions and Non-Institutions held 5.97% and 34.51% respectively.
Confidence Petroleum India has completed Seven CNG Stations at Bangalore and received License for commercial operation for Three and started CNG dispensing. Other upcoming CNG Stations are in line and are expected to be operational soon.
The company has ventured to set up CNG Stations across the country with the objective of nurturing clean energy sources & environmental protection and aimed at fulfilling the objective of government’s programme of commissioning 10,000 CNG Stations across the country.
Confidence Petroleum India 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.
