Indian Oil Corporation rises on getting nod for new crude oil pipeline from Mundra to Panipat
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Indian Oil Corporation is currently trading at Rs. 108.95, up by 0.05 points or 0.05% from its previous closing of Rs. 108.90 on the BSE.
The scrip opened at Rs. 109.25 and has touched a high and low of Rs. 110.35 and Rs. 108.65 respectively. So far 567675 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. 84.20 on 22-Dec-2020.
Last one week high and low of the scrip stood at Rs. 118.40 and Rs. 108.25 respectively. The current market cap of the company is Rs. 103508.68 crore.
The promoters holding in the company stood at 51.50%, while Institutions and Non-Institutions held 11.89% and 36.60% respectively.
Indian Oil Corporation (IOC) has received approval for investment proposal of new crude oil pipeline system with nameplate capacity of 17.5 MMTPA from Mundra to Panipat along with augmentation of crude oil tank farm at Mundra, at an estimated cost of Rs 9,028 crore. The project will meet the enhanced crude oil requirement arising out of capacity expansion of Panipat Refinery from 15 MMTPA to 25 MMTPA. The project is expected to be completed within 36 months and would be synchronized with the commissioning of Panipat Refinery expansion project.
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.
