Confidence Petroleum share price jumped more than 7 percent intraday on March 26 after the company said it signed an agreement with GAIL Gas for setting up 100 CNG stations on built-and-operate basis in Bengaluru over the next three years.
GAIL Gas Limited is one of the leading city gas distribution company in the country, while Confidence Petroleum India Limited is India's premier private sector LPG company, with a presence in 22 states of the country.
The setting up of 100 CNG stations will significantly improve the accessibility of the auto fuel for automobile users.
At 1243 hours, Confidence Petroleum was quoting at Rs 43.45, up Rs 2.75, or 6.76 percent on the BSE.
Confidence Petroleum touched a 52-week high of Rs 49.40 on March 10, 2021 and a 52-week low of Rs 12.85 on March24, 2020. It is trading 12.04 percent below its 52-week high and 238.13 percent above its 52-week low.GAIL India was quoting at Rs 130, up Rs 2.05, or 1.60 percent on the BSE.