Hot Pursuit
Rudra Gas Enterprise was locked in 5% upper circuit at Rs 73.59 after the firm said that it received a letter of award (LoA) from state-run oil refinery Bharat Petroleum Corporation (BPCL) for projects worth Rs 33.21 crore in West Bengal.
Shares of Bharat Petroleum Corporation (BPCL) rose 0.63% to Rs 281.42 on the BSE.
The contract is for MDPE pipeline laying & associated works (Phase-III), along with Last Mile Connectivity (LMC) and Direct Marketing Agency (DMA) activities for city gas distribution projects at Alipurduar and Coochbehar in the state of West Bengal.
The time period for the complete scope of work awarded will be eight months'seven months for mechanical work and one month for commissioning. The effective date of the order will be the letter of award from BPCL for each party, the company added.
Bharat Petroleum Corporation (BPCL) is a public sector company that is engaged in the business of refining crude oil and marketing petroleum products.
Rudra Gas is active in gas distribution network projects, fiber cable networks, construction equipment, and vehicle rental.
Rudra Gas Enterprise share price had made a bumper stock market debut on BSE SME on 15 February 2024. The SME stock was listed at Rs 119.70, 90% higher than the issue price of Rs 63.
Rudra Gas stock price hit a 52-week high of Rs 228.70 apiece on 1 October 2024 and has tanked significantly from the high level. The stock is trading 69% lower from its peak. It hit a 52-week low of Rs 61.94 apiece on 18 March 2025.
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