The terminal will have the capacity of 62,000 metric tonnes capacity and is expected to enhance the storage capacity and distribution capabilities for LPG in India
Notably, the immediate and robust support level stands at 19,800, providing a solid foundation for Nifty.
The company had reported 125.3 percent YoY jump in its June quarter net profit at Rs 32.02 crore and revenue has increased by 146.3 percent at Rs 875.13 crore.
Confidence Petroleum is in a classical up move, as it has given a breakout of long consolidation in the last trading session on robust volumes and surged above all the important simple moving averages, indicating inherent strength in the counter.