India Glycols Bags Order Worth Rs 1,164 Crore For Ethanol Supply

India Glycols Ltd. received orders worth Rs 1,164 crore for supply of ethanol under the Ethanol Blended Petrol Programme.

The order of 16.55 crore litres of ethanol is for the ethanol supply year from Nov. 1, 2023, to Oct. 31, 2024. India Glycols received orders worth Rs 896 crore from Bharat Petroleum Corporation Ltd., Indian Oil Corporation Ltd. and Hindustan Petroleum Corporation Ltd.

The remaining order of Rs 268 crore was from Reliance Industries Ltd. and Nayara Energy Ltd.

While OMCs ordered 12.80 crore litres of ethanol, the oil companies ordered 3.75 crore litres.

Shares of India Glycols closed at Rs 697.60 apiece, a gain of 0.67% compared to a 0.18% decline on the NSE Nifty 50 Index.