In an effort to reduce dependency on imports, the government on Saturday announced that compressed Biogas—which is obtained from agricultural and municipal waste—must be blended with natural gas.
According to a Government statement, 1% of biogas will initially be mixed with gas used for cooking in homes and cars starting in April 2025.
According to the statement, by 2028–2029, the CBG Blending Obligation(CBO) will support investments totaling about Rs 37,500 crores and assist in the creation of 750 CBG projects. CBG blending will be optional until FY 2024–2025 (April 2024–March 2025), at which point it will become required beginning in FY 2025–2026. Money control report
Here are the 5 stocks that can benefit from biogas blending:
Praj Industries Ltd.
A global provider of solutions with an emphasis on the environment, energy, and agri-process industry, Praj Industries Ltd. is a supplier of ethanol plants.
With a market capitalization of Rs 11,290.09 Crores. Praj Industries Ltd, On Tuesday, The shares were trading at Rs 614.45 a share, an increase of 0.96 percent from the previous closing price.
The stock gave a return of 57.97 percent in six months and a 57.44 percent return in a year.
Gulshan Polyols Ltd
One of the biggest producers of sorbitol and precipitated calcium carbonate in India is Gulshan Polyols Ltd. With a sizable market share in the relevant categories, it is the industry leader.
With a market capitalization of Rs 1,277.66 Crores. Gulshan Polyols Ltd, On Tuesday, The shares were trading at Rs 204.85 a share, a decrease of 0.99 percent from the previous closing price.
The stock gave a return of 7.68 percent in a year.
Eid Parry Ltd
EID Parry is a producer of ethanol, sugar, and nutraceuticals. Through its subsidiary Coromandel International Limited, it also has a sizable presence in the agricultural inputs industry, notably in the biopesticide market.
With a market capitalization of Rs 9,544.23 Crores. EID Parry Ltd, On Tuesday, The shares were trading at Rs 537.65 a share, an increase of 0.22 percent from the previous closing price.
The stock gave a return of 8.23 percent in six months.
Kotyark Industries Ltd
Through the adoption of environmentally friendly technology that favors the net reduction of greenhouse gas emissions for use in a public vehicle, Kotyark Industries Ltd. is contributing to the sustainable development of renewable natural resources (BioFuels) and renewable green energy.
With a market capitalization of Rs 681.36 Crores. Kotyark Industries Ltd, On Tuesday, The shares were trading at Rs 780.10 a share, an increase of 0.72 percent from the previous closing price.
The stock gave a return of 62 percent in six months and 75 percent in a year.
Dwarikesh Sugar Industries Ltd
Dwarikesh Sugar Industries Ltd. is the production of sugar and related goods. It is widely used in industries like power generation, ethanol/industrial alcohol production, and sugar manufacturing.
With a market capitalization of Rs 1,709.21 Crores. Dwarikesh Sugar Industries Ltd, On Tuesday, The shares were trading at Rs 90.77 a share, a decrease of 0.77 percent from the previous closing price.
The stock gave a return of 2.64 percent in six months.
Written By:- Abhishek Singh
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