GAIL Gas Ltd and Confidence Petroleum India Ltd sign agreement to set up 100 CNG stations on BOT basis in Bengaluru City

M/s. GAIL Gas Limited and M/s. Confidence Petroleum India Limited have signed an agreement on 25/03/2021 for setting up 100 CNG Stations on built & operate basis in Bengaluru city in next three years. M/s. GAIL Gas Limited is one of the leading and most promising City Gas Distribution Company of the nation whereas M/s. Confidence Petroleum India Limited is India's premier private sector LPG Company having presence in twenty two States of the country.

The Agreement was signed in presence of Shri E.S. Ranganathan, Director Marketing of GAIL, the Board of Directors and the Management of Gail Gas Limited in GAIL's head office at New Delhi. Shri Vivek Wathodkar, Chief General Manager & Officer in Charge on behalf of GAIL Gas and Shri Nitin Khara, Chairman & Managing Director on behalf of Confidence Petroleum signed the agreement. The setting up of 100 CNG Stations will significantly improve the accessibility of CNG auto fuel for automobile users' viz. cars, Autorickshaws, buses and heavy vehicles of Bengaluru.

On the occasion both companies reaffirmed to make available the clean, cheap, sustainable & Green fuel in Bengaluru and across the country to alleviate pollution and move towards a low carbon, sustainable, gas based economy.

Shares of CONFIDENCE PETROLEUM INDIA LTD. was last trading in BSE at Rs.40.7 as compared to the previous close of Rs. 43. The total number of shares traded during the day was 80940 in over 338 trades.

The stock hit an intraday high of Rs. 42.85 and intraday low of 39.7. The net turnover during the day was Rs. 3313141.

Source : Equity Bulls

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