Indian Oil soars on getting nod to form 50:50 joint venture companies in India
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Indian Oil Corporation is currently trading at Rs. 91.05, up by 1.24 points or 1.38% from its previous closing of Rs. 89.81 on the BSE.
The scrip opened at Rs. 90.36 and has touched a high and low of Rs. 91.15 and Rs. 90.29 respectively. So far 627731 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 101.44 on 10-Jul-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. 92.80 and Rs. 89.55 respectively. The current market cap of the company is Rs. 128475.03 crore.
The promoters holding in the company stood at 51.51%, while Institutions and Non-Institutions held 38.71% and 9.76% respectively.
Indian Oil Corporation has received approval from board of directors to form 50:50 Joint Venture Company in India between EverEnviro Resource Management, and Indian Oil or its wholly owned subsidiary, subject to approval of NITI Aayog, DIPAM etc. for setting up of Compressed Biogas Plants.
The company has also received approval for formation of 50:50 Joint Venture Company in India between GPS Renewables, and Indian Oil or its wholly owned subsidiary, subject to approval of NITI Aayog, DIPAM etc. for setting up of Compressed Biogas Plants. The Board of Indian Oil at its meeting held on September 29, 2023 has approved the same.
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.
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