Earlier, the renewable energy player said it is setting up a bio-energy plant in West Bengal with an investment of Rs 150 crore.
Shares of BCL Industries, a constituent of the BSE SmallCap index, are in focus today as the company has informed exchanges that a promoter has hiked a stake in the company. As per the information shared with exchanges, BCL Industries’ promoter Kushal Mittal has acquired more than 3.50 lakh shares.
He purchased 1,89,499 or 1.89 lakh equity shares on March 20, 75,000 equity shares on March 21, and 1,10,000 or 1.10 lakh equity shares on March 24.
Before this acquisition, Mittal owned 48,297,865 shares of the company, representing a 16.36 per cent stake. After the latest acquisition, the promoter now has 48,672,364 shares, representing a 16.49 per cent stake.
BCL Industries is one of the largest grain-based manufacturers of Extra Neutral Alcohol (ENA) and ethanol in the country. As per the December 2024 shareholding pattern, promoters own a majority stake in BCL Industries at 55.77 per cent while a 40.55 per cent stake is owned by non-institutional investors.
Meanwhile, the counter opened in green today at Rs 39.88 on the BSE against the previous close of Rs 39.03. It gained further to touch a high of Rs 40.23 but pared all the gain amid selling pressure. Last seen, the stock was trading at Rs 38.30.
The counter has given a multibagger return of 1265 per cent in 5 years. However, it has corrected 35 per cent in one year. So far this year, the scrip has corrected 24 per cent.
The stock has given 220 per cent returns on the NSE in the last four years. The market capitalisation of the company is Rs 1,144.64 crore.
Benchmark indices Sensex and Nifty continued their winning run on Tuesday early trade as investors’ sentiment remained firm amid foreign fund inflows and a sharp rally in the US markets.
Earlier, the renewable energy player said it is setting up a bio-energy plant in West Bengal with an investment of Rs 150 crore.
The company has also received an environment clearance for its 75 KLPD (kilo litres per day) plant coming up in Kharagpur, it said.
Additionally, the work on a similar project with a 75 KLPD capacity in Bathinda, Punjab is in full swing.
