Indian Oil Corporation inches up on acquiring Mercator Petroleum
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Indian Oil Corporation is currently trading at Rs. 168.95, up by 0.15 points or 0.09% from its previous closing of Rs. 168.80 on the BSE.
The scrip opened at Rs. 169.30 and has touched a high and low of Rs. 170.50 and Rs. 166.75 respectively. So far 1382308 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 196.80 on 08-Feb-2024 and a 52 week low of Rs. 85.51 on 26-Oct-2023.
Last one week high and low of the scrip stood at Rs. 170.50 and Rs. 163.60 respectively. The current market cap of the company is Rs. 238860.75 crore.
The promoters holding in the company stood at 51.50%, while Institutions and Non-Institutions held 38.31% and 10.20% respectively.
Indian Oil Corporation (IOC) has completed acquisition of Mercator Petroleum (MPL) for a consideration of Rs 154 crore. The MPL had been in the business of exploration of Oil and Gas and was a subsidiary of Mercator.
Earlier, the resolution plan submitted by Indian Oil Corporation for acquisition of 100% stake in Mercator Petroleum was approved by the National Company Law Tribunal, Mumbai Bench vide its order dated November 02, 2023.
Indian Oil Corporation 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.
