Ethanol maker BCL Industries shares zoom around 5% on order win - Check Details

Share of ethanol maker BCL Industries gained around 5 per cent to hit an intraday high of Rs 56.74 on Wednesday. The counter had closed at Rs 53.97 in the last trading session. The scrip ended the session in green at Rs 56.26.

The 52-week high of the counter is Rs 86.25 and the 52-week low is Rs 46. The market cap of BCL Industries is Rs 1,660 crore 

The movement in the stock price came following the news that the company has won an order for a supply of 60 lakh litres of Extra Neutral Alcohol (ENA) from Rajasthan State Ganganagar Sugar Mills.

This is one of the multibagger stocks that has given a positive return of 145 per cent in three years and 70 per cent in two years. However, it has given a negative return of 2.50 per cent in one year. 

Earlier in February, the company secured an order for supplying 53 lakh litres from Rajasthan State Ganganagar Sugar Mills Limited. By November 30, BCL said that it would be completing the supply of around 80 lakh litres.

Meanwhile, BCL Industries plans to invest Rs 350 crore to set up a biogas plant and a distillery in Haryana.

The company is making efforts to scale up its green initiatives and will set up a biogas plant of around 20 MTPD (Metric Tonne Per Day) capacity in Fatehabad, the company spokesperson said.

"This biogas plant will utilise 250 MT of paddy straw per day. The total capex for establishing the distillery and biogas plant at Fatehabad is estimated at around Rs 350 crore," he added.

The expected timeline for the project is about 20 months from the date of groundbreaking.