IOC jumps on planning to invest over Rs 7,000 crore in setting up city gas distribution networks
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Indian Oil Corporation is currently trading at Rs. 123.75, up by 0.50 points or 0.41% from its previous closing of Rs. 123.25 on the BSE.
The scrip opened at Rs. 124.95 and has touched a high and low of Rs. 125.05 and Rs. 123.20 respectively. So far 314000 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 141.75 on 09-Nov-2021 and a 52 week low of Rs. 86.70 on 13-Apr-2021.
Last one week high and low of the scrip stood at Rs. 125.05 and Rs. 118.15 respectively. The current market cap of the company is Rs. 116500.22 crore.
The promoters holding in the company stood at 51.50%, while Institutions and Non-Institutions held 20.56% and 27.94% respectively.
Indian Oil Corporation (IOC) is planning to invest over Rs 7,000 crore in setting up city gas distribution networks in the cities for which it has secured a licence in the latest bidding round.
IOC secured 33 per cent of the demand potential that was up for grabs in the recently concluded 11th round of CGD bidding, cornering cities from Jammu to Madurai to Haldia.
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.
