Indian Oil Corporation rises on incorporating Joint Venture Company
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Indian Oil Corporation is currently trading at Rs. 89.59, up by 0.38 points or 0.43% from its previous closing of Rs. 89.21 on the BSE.
The scrip opened at Rs. 89.11 and has touched a high and low of Rs. 89.80 and Rs. 88.96 respectively. So far 246303 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 91.43 on 31-May-2023 and a 52 week low of Rs. 65.20 on 29-Sep-2022.
Last one week high and low of the scrip stood at Rs. 91.43 and Rs. 88.60 respectively. The current market cap of the company is Rs. 126766.36 crore.
The promoters holding in the company stood at 51.50%, while Institutions and Non-Institutions held 38.45% and 10.05% respectively.
Indian Oil Corporation (IOC) has incorporated the Joint Venture Company with NTPC Green Energy, (a wholly owned subsidiary of NTPC) named IndianOil NTPC Green Energy on June 2, 2023. IndianQil NTPC Green Energy will develop Renewable Energy based power projects (viz. Solar PV, Wind, any other RE, Energy Storage or any combination of same), to meet the Round the Clock (RTC) power requirements of new projects of IndianQOil Refineries.
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.
