BCL Inds turns sweet

BCL Industries had participated in a tender floated by Oil Marketing Companies (OMCs) dated 1st Nov’21, inviting various molasses and grain based ·distilleries for supplying Ethanol for the period commencing from 01 st Dececmber, 2021 till 30th November, 2022 at their various locations across the country.

After the closure of the first round of offerings, BCL has been been allocated quantity of 3.60 crores litres of Ethanol from its manufacturing unit at Bathinda for supplies to OMCs. The company has also applied for additional quantity of 0.50 crore lts.

The total suppliable quantity to OMCS will be upto 4.10 Crore Ltrs for the period from 01 st Dececmber, 2021 till 301 h November, 2022.

The company also expects that its subsidiary viz. Svaksha Distillery will also commence its commercial production of Ethanol in last quarter of this financial year 2021-22 and will initiate the supply once commercial production commences.

The per unit rate of Ethanol made from the Damaged Food Grains has been fixed at Rs. 52.92/- per litre with an increase of Rs. 1.37 /- per ltr from previous year. The rate for Ethanol made from Surplus Food Grains remains unchanged.

Following this news, the stock opened almost flat at Rs.239.80 and once the news came in, rose to an intraday high at Rs.262.05, with volumes up over 4.5 times. Its 52-week high is at Rs.289.60.