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Confidence Petroleum India gains on bagging first Mobile Refueling Unit from MNGL

Confidence Petroleum India is currently trading at Rs. 31.35, up by 0.25 points or 0.80% from its previous closing of Rs. 31.10 on the BSE.

The scrip opened at Rs. 31.45 and has touched a high and low of Rs. 32.05 and Rs. 31.00 respectively.

The BSE group ‘B’ stock of face value Rs. 1 has touched a 52 week high of Rs. 31.95 on 01-Dec-2020 and a 52 week low of Rs. 12.85 on 24-Mar-2020.

Last one week high and low of the scrip stood at Rs. 31.95 and Rs. 25.75 respectively. The current market cap of the company is Rs. 851.63 crore.

The promoters holding in the company stood at 54.16%, while Institutions and Non-Institutions held 5.65% and 40.18% respectively.

Confidence Petroleum India has received first MRU (Mobile Refueling Unit) from MNGL, a Joint venture of BPCL, GAIL & Maharashtra Government, the City Gas Distribution Company involved in distribution of CNG & PNG in Pune city. The MRU is for distribution of CNG in Pune city areas like Hinjewadi, Talegaon etc.

This unique concept has been implemented for the first time in India where customers of CNG will avail this facility at their doorstep. By implementation of this concept the reach of CNG will be far better and waiting time at fueling stations will be minimized considerably.

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.

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