BCL Industries’ share has given investors a bumper return of 600% from the low level of Rs 11.63 on March 12, 2021.
Share Market News: The shares of BCL Industries, an ethanol manufacturer, rose 15 percent on Friday and opened at Rs 77.50. The shares of BCL Industries have given investors a return of 13% in the last 5 days. The shares of the company have also given 23 percent return in the last 1 month, and 52 percent in the last 6 months. BCL Industries’ shares have already made investors rich by giving a bumper return of 150% from the low of Rs 30 in the last 1 year.
BCL Industries’ share has given investors a bumper return of 600% from the low level of Rs 11.63 on March 12, 2021. Due to the increasing demand for petrol and diesel in India, the central government and oil marketing companies have increased the price of ethanol made from corn by Rs 5.79 per liter to Rs 71.86 per liter.
The increase in the price of ethanol made from maize by oil marketing companies such as Indian Oil, Bharat Petroleum and Hindustan Petroleum is likely to provide significant help to distilleries such as BCL Industries Limited that produce ethanol from alternative sources.
This could also lead to a major change in the country’s agricultural landscape and help boost maize cultivation. BCL Industries Limited had recently informed the stock market that it plans to increase ethanol production to 850 kiloliters per day in the next two years. BCL Industries has set up a state-of-the-art plant in Kharagpur, West Bengal, due to the growing demand for ethanol in the northeastern states.
In view of the rising fuel prices, the company has decided to set up a separate unit running on straw to run the boiler through the system. BCL Industries company is engaged in the process of making biomass from straw. The company is also getting concessions from the Punjab government for this plant.
Disclaimer: The article is for informational purposes only and not investment advice.