Indian Oil Corporation jumps on entering into collaboration with Phinergy
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Indian Oil Corporation is currently trading at Rs. 98.20, up by 0.90 points or 0.92% from its previous closing of Rs. 97.30 on the BSE.
The scrip opened at Rs. 96.60 and has touched a high and low of Rs. 98.60 and Rs. 95.40 respectively. So far 1023746 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 105.00 on 08-Feb-2021 and a 52 week low of Rs. 71.15 on 18-May-2020.
Last one week high and low of the scrip stood at Rs. 102.70 and Rs. 95.40 respectively. The current market cap of the company is Rs. 92541.18 crore.
The promoters holding in the company stood at 51.50%, while Institutions and Non-Institutions held 19.48% and 29.02% respectively.
Indian Oil Corporation (IOC) has entered into collaboration with Israeli start-up company Phinergy to form IOC Phinergy. The collaboration will manufacture Aluminum-Air systems in India to boost the ‘Make in India’ programme and recycle used Aluminum to strengthen India's energy security.
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.
