The stock has been gaining for the last two days and has risen 0.5 per cent in the period. Technically, the stock is trading lower than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.
Shares of renewable energy player BCL Industries are in focus as the company has informed exchanges that its board of directors has approved the acquisition of an additional 25 per cent stake in its subsidiary. The stock started the trading session flat at Rs 32.41 on the BSE. The scrip gained further to touch the high of Rs 32.76. Last seen, the stock was trading at Rs 32.42 with a gain of 0.03 per cent. The market cap of the company stood at Rs 956.92 crore. In between, the scrip traded at an intraday low of Rs 32.30. Similarly, the stock started the session flat on the National Stock Exchange (NSE) and later touched an intraday high and low of Rs 32.79 and 32.17, respectively.
The stock has been gaining for the last two days and has risen 0.5 per cent in the period. Technically, the stock is trading lower than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.
The stock’s 14-day relative strength index (RSI) is 21.88. For the uninitiated, a level above 70 is considered overbought or overvalued, and below 30 is defined as oversold or undervalued.
To acquire 25% stake in subsidiary
The company informed about the decision to acquire an additional 25 per cent stake in its subsidiary, Svaksha Distillery Limited, making it a 100 per cent subsidiary of BCL Industries. This acquisition will be valued at approximately Rs 55 crore and will help BCL further strengthen its presence in the ethanol sector.
Since both companies operate in the same industry, the deal is expected to result in cost reductions, improved operations, and market advantages. The acquisition will be completed by June 30, 2026.
The company also said that the board has approved the sale of its land on Haji Ratan Link Road in Bathinda.
Meanwhile, the company’s total revenue in the September quarter was Rs 720 crore, a 12.4 per cent decrease from Rs 822 crore in the previous quarter (June 2025). This revenue was also 4 per cent lower than the previous year’s September quarter (Rs 748 crore).
ALSO READ | Apis India 24:1 bonus shares: Stock set to trade ex-bonus this week, check record date and share price
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
