Indian Glycols witnessed a 3% rise in its stock price after securing a significant ethanol supply allocation for the Ethanol Supply Year 2024-25. The company has been awarded 18.06 crore liters of ethanol under the Ethanol Blended Petrol Programme (EBPP), with an estimated contract value of ₹1,264.20 crore. As of 9:22 AM, the shares were trading 2.68% higher at Rs 1,189.60.
The ethanol allocation has been granted by leading Oil Marketing Companies—Bharat Petroleum, Indian Oil, and Hindustan Petroleum—along with private refiners Reliance Industries and Nayara Energy. Indian Glycols will supply 17.53 crore liters to these OMCs, valued at ₹1,227.10 crore, while 0.53 crore liters worth ₹37.10 crore will be supplied to private oil firms.
Production will take place at the company’s Kashipur and Gorakhpur plants using Damaged Food Grains (DFG) and surplus FCI rice, aligning with India’s push for sustainable ethanol blending. This contract reinforces Indian Glycols’ position in the ethanol supply chain and supports the nation’s renewable energy initiatives.
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