Globus Spirits climbs ~4% on receiving additional price relief by OMCs

10 Jun 2022 , 02:59 PM

Globus Spirits Limited informed that the Oil Marketing Companies (OMCs) have announced an additional price relief scheme, wherein the company will receive additional Rs2.337 and Rs1.437 per litre on Damaged Food Grain based Ethanol and Surplus Food Grain based Ethanol respectively.

The new rates were effective from June 1, 2022, to November 30, 2022.

Also, the effective realization on Ethanol inclusive of the relief scheme for this period has been increased to Rs55.257 and Rs58.307 per litre on Damaged Food Grain based Ethanol and Surplus Food Grain based Ethanol respectively.

This is another show of positive intent of the OMCs towards fulfilling their responsibilities of the Ethanol Blending programme.

At around 3.03 PM, Globus Spirits was trading at Rs1,020 per piece, up by Rs42.65 or 4.36% from its previous closing of Rs977.35 on the BSE. The scrip touched a high and low of Rs1,034.05 and Rs962.85 respectively.