Confidence Petroleum hit a new high today at Rs.17.27, up 5% the moment it opened for trading.

The exuberance is on account of the receipt of order worth Rs.362 crore from BPCL, HPCL and IOC.  The order is for supply of 30,16,352 LPG cylinders with option of order for equivalent quantity next year.

This comes at an opportune time as one of its recently commissioned facilities went on stream. This is at Nagpur with an installed capacity of 432000 cylinders per annum.