Confidence Petroleum India announced the company has acquired additional 25% stake in Blue Flame Industries taking its total shareholding to 75% stake.

Blue Flame industries has a cylinder manufacturing plant at Jharkhand with a installed capacity of 6 lakh LPG cylinders per annum mainly for supply to PSU Oil companies. 

The stock had underperformed the market over the past one month till Sep. 10, 2018, falling 17.64% compared with the Sensex's 0.14% rise. It underperformed the market in past one quarter, declining 6.93% as against 7.36% rise in the Sensex.

Shares of the company gained Rs 0.1, or 0.23%, to trade at Rs 44.20. The total volume of shares traded was 53,441 at the BSE (11.32 a.m., Tuesday).