Confidence Petroleum to commission CNG Dispensing Stations

Confidence Petroleum India Limited announced today that it has been awarded with the contract by Gujarat Gas Ltd. for commissioning of CNG Dispensing Stations in Gujarat and, hence, is venturing into the installation of CNG dispensing stations and other related projects.

It further announced that the project division of the company would aggressively pursue commissioning of CNG Stations and other projects across the nation in the near future.

Confidence Petroleum India Limited is a manufacturer of liquefied petroleum gas (LPG) cylinders for domestic and commercial use. The company is engaged in the sale of cylinder, LPG bottling, and filling/DPT/transport. Its segments include the LPG/CNG cylinder manufacturing, and LPG bottling and marketing. The LPG/CNG cylinder manufacturing segment includes production and marketing operations of cylinders. The LPG bottling and marketing segment includes bottling of LPG and supplies for commercial usage. Its divisions include cylinder division, auto LPG dispensing stations (ALDS) division, and LPG trading, refilling, and packaging division. It engages in the business of LPG and auto LPG manufacturing and packed cylinder under the brand name of Go Gas. It has over four blending plants and approximately 51 LPG bottling plants across India, engaged in blending propane and butane into LPG, and refilling LPG cylinders for industrial and household consumption, respectively.

At 12:00 pm on Thursday, the stock was trading at Rs. 27, up by 0.19 percent or Rs. 0.05 per share. The 52-week high was recorded at Rs. 47.90 and the 52-week low was recorded at Rs. 19.35.