Confidence Petroleum India Ltd acquires Punjab Petroleum Corporation Ltd

CONFIDENCE PETROLEUM INDIA LIMITED (The Company) has acquired 99.99% of the equity share capital i.e. 22,50,000 equity shares of face value of Rs. 10/- each of Punjab Petroleum Corporation Limited (PPCL).

Consequentially, Punjab Petroleum Corporation Limited will be a Subsidiary of the Company w.e.f 1st July, 2024.

The company and PPCL both belongs to Gas and Petroleum Industry and engage in the business of LPG bottling and Cylinder Manufacturing.

Shares of Confidence Petroleum India Limited was last trading in BSE at Rs. 83.56 as compared to the previous close of Rs. 80.88. The total number of shares traded during the day was 113795 in over 1431 trades.

The stock hit an intraday high of Rs. 84.63 and intraday low of 81.14. The net turnover during the day was Rs. 9429903.00.

Source : Equity Bulls

Keywords

ConfidencePetroleumIndia INE552D01024 Acquisiton PunjabPetroleumCorporation