Confidence Petroleum bags Rs 36.64 cr order from HPCL

MUMBAI: Confidence Petroleum India on Monday announced that two of its units have received orders worth Rs 36.64 crore from Hindustan Petroleum Corporation for supply of LPG cylinders.

Confidence Petroleum's Khopoli Cylinder manufacturing unit and Andhra Cylinders, a unit of Envy Cylinders, have bagged the orders, the company said in a filing to the Bombay Stock Exchange (BSE).

The work is to be executed by April, 2011, it added. Confidence Petro is also expecting further orders from HPCL for its Bazpur (Uttaranchal), Kalmeshwar (Nagpur) and Saoner (Nagpur) units.

Shares of the company were trading at Rs 18.40, up 7.92 per cent from the previous close on BSE.

Networth Stock Broking mulls takeover, merger options * Networth Stock Broking today said it has decided to explore takeover or merger opportunities for expansion of networking, reach and client base.

Besides, the brokerage firm also said that it has appointed Manish Ajmera, CFO of the company as the Executive Director, Networth Stock Broking said in a filing to the Bombay Stock Exchange.

The board of directors at its meeting held on December 12 has also accepted the resignation of Girish Dev, from the post of CEO and Directorship of the company, it added.