Confidence Petroleum zooms ~5% on bagging prestigious order worth Rs22.81 crore

6 Jun 2022 , 01:16 PM

Confidence Petroleum Limited informed that the company has bagged a prestigious order worth Rs22.81 crore.

The order received is an Annual Rate Contract for the supply of 75 units of CNG Mobile and Stationary Cascades (Type I) for the BPCL/BGRL City Gas Distribution Project.

The project is to be carried on in 17 geographical areas.

Confidence Petroleum’s counter jumped nearly 5% so far in today’s trade at Rs58.25 against its previous close of Rs55.50 on NSE. After opening at Rs55.80, the scrip hit an intraday high of Rs59.70.

Confidence is also ventured to set up CNG Stations across the country with the objective of nurturing clean energy sources & environmental protection and aimed at fulfilling the company’s aim of Hon’ble Prime Minister’s programme of commissioning 10,000 CNG Stations across the country.

In pursuance of an agreement with GAIL GAS LTD for the establishment of 100 CNG stations in the City of Banglore, the company announced that it has completed Seven CNG Stations at Bangalore, and received a License for commercial operation for Three. Further, it has started CNG dispensing. Other upcoming CNG Stations are in line and are expected to be operational soon.