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BCL Industries was in the spotlight during Wednesday's trading session as the company's stock gained 5.13 per cent to a day's high of Rs 56.74 on the BSE during intraday trade. The northward movement in the company’s stock price came following the news that the company has received a letter of acceptance for supplying 60 lakh litres of Extra Neutral Alcohol (ENA) from Rajasthan State Ganganagar Sugar Mills.
“The company, in its normal course of business, participated in a tender floated by M/s Rajasthan State Ganganagar Sugar Mills to supply Extra Neutral Alcohol (ENA) and, on November 26, 2024, received a letter of acceptance for supplying 60 lakh litres of ENA from its Bathinda (Punjab) distillery over the next six months, with a possibility of supplying an additional 50 per cent of the said order at the buyer’s option,” BCL Industries said in a regulatory filing on the BSE.
However, the company did not disclose the value of the order.
Established in 1976, BCL Industries is one of India’s largest agro-processing manufacturing companies, with diverse businesses and vertical integrations. The company has rapidly expanded into segments such as edible oils, rice milling, grain-based distilleries, and real estate.
As of November 27, 2024, the company has a market capitalization of Rs 1,650.26 crore on the BSE. BCL Industries is a constituent of the BSE SmallCap index.
Historically, BCL Industries shares have offered modest returns to investors, delivering a 6 per cent return in the last six months and nearly 1 per cent in the past year.
BCL Industries shares have a 52-week range of Rs 86.25 - Rs 46 on the BSE.
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At around 2:20 PM on Wednesday, BCL Industries shares were trading at Rs 55.79, down 3.37 per cent from their previous close of Rs 53.97 on the BSE. Nearly 0.21 million shares of the company, worth approximately Rs 11.72 crore, were traded on both the NSE and BSE as of Wednesday.
Meanwhile, benchmark equity indices BSE Sensex stood at 80,289.66, up 285.60 points or 0.36 per cent, while the NSE Nifty50 was at 24,289.20, up 94.70 points or 0.39 per cent.
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