BOC India flares up on new gas supply deal

DALAL STREET SPIKES

Shares of BOC India went up 4.36 per per cent to close at Rs 59.90 with the company announcing that it has entered into a 15-year deal for supply of gas to Jindal Vijaynagar Steel.

The scrip opened at Rs 59, went to a high of Rs 61.40, while the low was Rs 58.50 during intra-day trades. Volume in the counter were of the order of 2.25 lakh shares on the BSE.

The scrip has been volatile of late and has surged from a low of Rs 46.60 in the last week of October to its current levels. The reason for the lows reached last month was due to the disappointing results by the company.

This current deal is expected to fetch the company's cash flows to the tune of Rs 70 crore per annum, all of which will be added to its revenues. BOC, incidentally is a market leader in industrial gases.