IOC strengthens on tying up with US, Saudi Arabia for oil imports

Indian Oil Corporation is currently trading at Rs. 157.35, up by 7.65 points or 5.11% from its previous closing of Rs. 149.70 on the BSE.

The scrip opened at Rs. 154.95 and has touched a high and low of Rs. 158.80 and Rs. 152.50 respectively. So far 1052239 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 177.20 on 08-Jun-2018 and a 52 week low of Rs. 105.65 on 05-Oct-2018.

Last one week high and low of the scrip stood at Rs. 158.80 and Rs. 141.50 respectively. The current market cap of the company is Rs. 148225.93 crore.

The promoters holding in the company stood at 52.18%, while Institutions and Non-Institutions held 20.87% and 26.95% respectively.

Indian Oil Corporation (IOC) has tied up imports from the US and taken additional volumes from Saudi Arabia to make up for the bulk of the volumes lost because of sanctions prohibiting buying oil from Iran.

India bought close to 24 million tonnes of crude oil from Iran in the fiscal ended March 31 (2018-19). Of this, the company sourced about 9 million tonnes from Iran.

IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.

The post IOC strengthens on tying up with US, Saudi Arabia for oil imports appeared first on Udaipur News | Udaipur Latest News | udaipur local news.

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