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Weak refining and marketing performance; LPG subsidy burden continues to impact the earnings Indian Oil Corp Q2FY25 performance showcased a poor core performance aggravated by inventory and adventitious losses. The integrated core margins in USD/bbl were lower than our estimates at 2.6 versus 4.1. With EBITDA at Rs37.7bn and Adj. PAT loss of Rs9.8bn, the core GRMs has been quite weaker with inventory losses, while the marketing performance stood weaker than our expectations with higher-tha...
Neutral Indian Oil Corporation Ltd For Target Rs. 163 by Yes Securities Ltd
Petroleum Minister Hardeep Singh Puri said on Tuesday that India’s current biofuel blending rate has reached 16.9 per cent, putting the country on track to reach the 20 per cent target set for 2025-26. “As a result of the Govt. of India’s biofuel initiatives, we have saved Rs 91,000 crore in import bills parallelly giving a much-needed boost to the agriculture sector,” he added. He also said that India ranks second globally in biofuel blending, undersco...
Government`s biofuel drive has saved Rs 91,000 crore in oil import bills: Hardeep Puri
Oil Corp expects to complete expansion of its refineries in Panipat, Gujarat and Barauni by December of next year, said sources familiar with the information on Tuesday. "We see all three refinery expansions converging by December 2025," one of the source said, adding that the crisis in Ukraine and COVID pandemic were primary reasons for the delays. India's top refiner was expanding the capacity of its Barauni refinery in the state of Bihar from 6.0 million tonnes per annu...
Indian Oil aims to finish expansion of Panipat, Gujarat, Barauni refineries by Dec 2025
Indian Oil Corporation is currently trading at Rs. 141.25, down by 5.85 points or 3.98% from its previous closing of Rs. 147.10 on the BSE. The scrip opened at Rs. 140.85 and has touched a high and low of Rs. 145.00 and Rs. 140.70 respectively. So far 1697472 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. 86.80 on 30-Oct-2023. Last one week high and low of the scr...
Indian Oil Corporation declines on reporting consolidated net loss of Rs 449 crore in Q2
India's annual diesel consumption is expected to rise by 3%-4% in the current fiscal year to March 31, said V. Satish Kumar, chairman of Indian Oil Corp (IOC). India's annual diesel demand in April-September, half of this fiscal year, rose 1% to 44.4 million tons, according to government data, even though heavy rains curtailed the movement of trucks. "There will be a pick up in diesel consumption from October as rains have stopped and crop harvesting has begun," V. Sat...
India`s diesel consumption to rise 3%-4% in current fiscal year, says Indian Oil chair
Indian Oil Corp, the country's largest refiner, has bought 4 million barrels of U.S. West Texas Intermediate crude via a tender for January delivery, trade sources said on Friday. Occidental and Mitsui sold 2 million barrels of WTI each at about $3 a barrel above dated Brent on cost and freight basis, they said. The refiner had sought to buy sweet crude from West Africa or North America in the tender.
India's IOC buys U.S. WTI crude for January delivery
Indian Oil Corporation is currently trading at Rs. 168.50, up by 3.10 points or 1.87% from its previous closing of Rs. 165.40 on the BSE. The scrip opened at Rs. 167.80 and has touched a high and low of Rs. 169.40 and Rs. 167.05 respectively. So far 187170 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 ...
IOC surges on entering into Joint Venture Agreement with EverEnviro Resource Management
Adani Total Gas Ltd (ATGL) on Friday said it has secured the largest global financing in the city gas distribution business, at $375 million, which will help the company cater to over 200 million people, covering 14 per cent of India's population. The maiden financing, executed with international lenders, includes an initial commitment of $315 million with an accordion feature to enhance the commitments. Five international lenders, which include BNP Paribas, DBS Bank, Mizuho B...
Adani Total Gas secures largest global financing in city gas biz at $375 mn
StoxBox presents its latest insights with the Techno Funda: Super 7 Picks September 2024, as the markets continue to evolve. This thoughtfully curated list of stocks combines strong fundamentals and promising technical indicators, providing growth opportunities across different sectors. From cement to technology and energy, these stocks are poised to capitalize on market momentum and offer strategic entry points for investors. 1) ACC Cement - StoxBox recommends buying ACC Ltd. at Rs.249...
StoxBox September`s Stock Stars - The Ultimate Super 7
The RINL, the corporate entity of the Visakhapatnam Steel Plant, on Tuesday, signed a memorandum of understanding with Indian Oil Corporation Ltd (IOCL) for the supply of hydraulic and lubricating oils and greases for a period of 5 years from 2024 to 2029. The MOU will ensure an uninterrupted and continuous supply of lubricants to the Visakhapatnam steel plant from IOCL. The national oil giant will provide technical support to RINL, Visakhapatnam steel plant in the field of lubricat...
RINL, Indian Oil ink 5-year pact for lubricants
Our View Indian Oil Corp Q1 FY25 performance showcases a poor core performance, surprises on inventory and adventitious gains. The integrated core margins in USD/bbl were lower than our estimatesat 1.6 vs 3. With EBITDA at Rs86.3bn and PAT of Rs26.4 bn, the core GRMs has been quite weaker with higher gains, while the marketing performance marginally weaker than our expectations. Reported EBITDA and PAT is higher than ours but lower than the consensus expectations. The reported GRM of USD6....
Buy Indian Oil Corporation Ltd For Target Rs. 215 By Yes Securities
Indian Oil Corp (IOC) reported a nearly 81% plunge in first-quarter profit on Tuesday, weighed by lower marketing margins. The state-owned firm's standalone net profit declined to 26.43 billion rupees (around $316 million) for the three months ended June 30. IOC's average gross refining margin - the profit from making refined products from one barrel of oil - fell to $6.39 per barrel from $8.34 per barrel a year ago. KEY CONTEXT Fuel consumption remained strong in the quar...
Indian Oil's Q1 profit plunges 81% on lower marketing margins
Indian Oil aims to increase its liquified natural gas portfolio to 20 million tonnes per year (MTPA) by 2030, from 7.8 MTPA currently, Sujoy Choudhury, head of planning and business development at the company, said at an industry event on Thursday. The power sector is expected to be one of the key drivers for Indian LNG demand, Choudhury added.
Indian Oil to boost LNG portfolio to 20 million tonnes by 2030, exec says
French energy major TotalEnergies announced on Tuesday agreements with Indian Oil Corporation and Korea South-East Power for the supply of liquefied natural gas (LNG) over a medium to long term period. It signed a sales and purchase agreement with Indian Oil Corporation to deliver up to 800,000 metric tons per year of LNG to India for ten years from 2026, it said in a statement. The company also signed a heads of agreement with Korea South-East Power to supply up to 500,000 metric tons ...
TotalEnergies signs LNG agreements with Indian Oil Corp, Korea South-East Power
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...
Indian Oil Corporation inches up on acquiring Mercator Petroleum
Indian Oil Corporation Limited (IOCL) on Tuesday reported a 52 per cent decline in consolidated net profit at Rs 4,837 crore for the January-March quarter. The public sector oil giant registered a net profit of Rs 10,059 crore in the same period last year. However, crude oil prices during the fourth quarter of 2023-24 rose by as much as 16 per cent which resulted in a sharp increase in input costs that were not passed on to consumers. The company's revenue was more or less fla...
Indian Oil posts 52 pc dip in Q4 net profit amid sharp rise in crude oil cost
Higher-than-estimated GRM and marketing margin drive beat - IOCL reported beat on our EBITDA at INR155b (up 2.9x YoY), led by better-than-expected GRM at USD13.5/bbl (vs. our est. of USD10.2/bbl) and higher marketing GM at INR4.5/lit. (vs. our estimate of INR3.1/lit). - Refining throughput came in line with our estimate at 18.5mmt (up 4% YoY). In the marketing segment, domestic sales volu...
Buy Indian Oil Corporation Ltd. For Target Rs.165 By Motilal Oswal Financial Services
Strong earnings momentum to continue Q3FY24 PAT at INR 81bn Indian Oil Corporation (IOCL IN) reported Q3FY24 PAT of INR 81bn (Elara: INR 55bn), down 38% QoQ versus INR 4.5bn in Q3FY23. The YoY growth was driven by margin recovery in Diesel led by lower crude prices. GRM at USD 13.5/bbl beat estimates of USD 7.6/bbl. ...
Buy Indian Oil Corporation Ltd For Target Rs. 178 - Elara Capital
Bharat Petroleum Corporation is currently trading at Rs. 630.55, up by 29.00 points or 4.82% from its previous closing of Rs. 601.55 on the BSE. The scrip opened at Rs. 609.85 and has touched a high and low of Rs. 635.00 and Rs. 606.45 respectively. So far 484386 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 635.00 on 08-Feb-2024 and a 52 week low of Rs. 314.10 on 28-Feb-2023. Last one week high and low of th...
BPCL shines after its joint venture renews 20-year partnership with Qatar Energy
India's top refiner Indian Oil Corp expects its gasoline sales to rise 4.5%-5% in the financial year ending on March 31, 2025, the company's head of marketing said on Tuesday. "We are seeing a steady growth in MS (gasoline) sales," Satish Kumar Vaduguri told reporters on the sidelines of the India Energy Week conference. The company's diesel sales are expected to climb 3% over the same financial year, he said.
India`s IOC sees growth in gasoline, diesel sales in FY2024/2025
Apollo Micro Systems is currently trading at Rs.124.95, up by 1.00 points or 0.81% from its previous closing of Rs. 123.95 on the BSE. The scrip opened at Rs. 124.05 and has touched a high and low of Rs. 128.50 and Rs. 124.00 respectively. So far 26229 shares were traded on the counter. The BSE group 'T' stock of face value Rs. 1 has touched a 52 week high of Rs. 161.75 on 20-Nov-2023 and a 52 week low of Rs. 24.63 on 29-Mar-2023. Last one week high and low of the scrip stood...
Apollo Micro Systems trades higher on getting LoA worth Rs 25.58 crore
Indian Oil Corporation (IOC) on Wednesday announced a massive jump in net profit for the third quarter of FY 2023-24 to Rs 8,063 crore from the corresponding figures of Rs 448 crore in the same quarter of FY 2022-23 on higher refining margins. The leading oil marketing company’s revenue from operations worked out to Rs 2,23,012 crore in Q3 2023-24 as compared to Rs 2,28,168 crore in the same quarter of the previous financial year. For the third quarter of FY 2023-24, Indian Oil...
Indian Oil posts big jump in net profit at Rs 8,063 cr for Q3
The Assam government will host a steam boiler expo in February with an aim to attract industry players for investment in the state, officials said. An official statement mentioned that the event is a dynamic collaboration with industry giants such as Indian Oil Corporation Limited (IOCL), Oil India Limited (OIL), Numaligarh Refinery Ltd. (NRL), Brahmaputra Cracker and Polymer Ltd. (BCPL), Assam Petro Chemicals and NTPC limited. The Expo will witness active participation from leading manufa...
Assam to hold boiler expo to attract investments
Diversified portfolio augurs well Indian Oil’s refining and marketing divisions contribute over 70% to its EBITDA. We expect the FY26 contribution of marketing a 45%, refining at 28%, petchem 11%, and pipeline 16%. Currently IOCL is the most diversified and least susceptible to issues of any division, among all OMCs. Improved Marketing Outlook: Over the past few months, retail fuel margins have recovered from weaker numbers with a fall in crude and product prices which were not pa...
Buy Indian Oil Corporation Ltd For Target Rs.155 - Yes Securities Ltd
Indian Oil Corp, the country's top refiner, aims to double the capacity of its liquefied natural gas (LNG) import terminal at Ennore in southern India, Sandeep Jain, the company's executive director for gas business, said on Friday. The company plans to expand capacity to 10 million metric ton per year (tpy) amid the growing demand for gas in the country, Jain told reporters at an industry event. He did not elaborate the details. India wants to raise the share of gas in its ener...
Indian Oil to double Ennore LNG terminal`s capacity to 10 million tpy
Taylormade Renewables is currently trading at its upper limit of Rs. 670.55, up by 31.90 points or 4.99% from its previous closing of Rs. 638.65 on the BSE. The scrip opened at Rs. 670.55 and has touched a high and low of Rs. 670.55 and Rs. 670.55 respectively. So far 3600 shares were traded on the counter. The BSE group 'M' stock of face value Rs. 10 has touched a 52 week high of Rs. 719.00 on 18-Aug-2023 and a 52 week low of Rs. 24.30 on 22-Nov-2022. Last one week high and ...
Taylormade Renewables touches roof on becoming Industrial Partner with Indian Oil Corporation
Weak petchem offsets marketing and refining gains * IOCL reported EBITDA of INR213b (up 4.3x YoY), in line with our estimate of INR210b, led by better-than-expected GRM at USD17.9/bbl (vs. our est. of USD14.9/bbl) and higher marketing GM at INR5.8/lit. (vs. our estimate of INR5/lit). * Refining throughput came in line with our estimate at 17.8mmt (up 10% YoY). In the marketing segment, domestic sales volumes were also in line with our estimate at 21.9mmt (up 2% YoY). * Singapore GRM ...
Buy Indian Oil Corporation Ltd For Target Rs.115 - Motilal Oswal Financial Services
IOCL reported a 7% beat on SA adj EBITDA at Rs220.6bn in Q2FY24, on better than expected marketing earnings, akin to peer BPCL. Core GRM is ~USD16/bbl (bettering our USD13/bbl estimate; reported GRM of USD18.1 came in-line). Implied blended marketing margin is estimated at ~Rs4.9/kg, in-line, based on BPCL’s reported marketing inventory. Domestic sales grew 2% YoY with diesel down 8%, worse than the industry/BPCL. Petchem EBIT rose from Rs884mn to Rs1.6bn QoQ, driven by volume. Net debt...
Hold Indian Oil Corporation Ltd For Target Rs.100 - Emkay Global
Indian Oil Corporation Ltd * Seeing noticeable rebound in the oil marketing pack and IOC is also participating in the move. * It has rebounded strongly after testing the support zone of long term moving average i.e. 200 EMA. * The chart pattern combined with uptick in volumes indicates the prevailing trend to continue. * We thus recommend creating fresh longs in the mentioned range. BUY Indian Oil Corporation Ltd CMP 92.45; Range 92-93; SL 89; Target 100 ...
Stock of the day : Buy Indian Oil Corporation Ltd For Target Rs.100 - Religare Broking Ltd
Indian Oil Corporation posted a net profit of Rs 12,967.3 crore for the July-September quarter of the current financial year compared to a loss of Rs 272 crore in the same quarter of the previous year. The profit in the current fiscal comes on the back of higher refining margins. The total revenue during the quarter was Rs 1.8 lakh crore. However, sequentially the oil marketing giant’s profit fell 5.7 per cent as it had posted Rs 13,750 crore profit in the previous quarter (April-...
Indian Oil net profit shoots up to Rs 12,967 crore in q2
High crude oil prices will weaken the profitability of the country?s three state-owned oil marketing companies -- Indian Oil Corporation Ltd, Hindustan Petroleum Corporation Limited (HPCL) and Bharat Petroleum Corporation Limited (BPCL) -- as they have limited flexibility to pass on higher raw material costs to consumers due to the forthcoming Lok Sabha elections in May 2024, according to a report by Moody?s.The report points out that the market margins of the three oil companies -- the diffe...
Indian Oil, BPCL, HPCL to take a hit due to soaring crude prices: Moody`s
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...
Indian Oil soars on getting nod to form 50:50 joint venture companies in India
Tata Motors is currently trading at Rs. 621.90, up by 3.30 points or 0.53% from its previous closing of Rs. 618.60 on the BSE.The scrip opened at Rs. 619.95 and has touched a high and low of Rs. 625.65 and Rs. 618.00 respectively. So far 389071 shares were traded on the counter.The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 665.30 on 26-Jul-2023 and a 52 week low of Rs. 375.50 on 26-Dec-2022.Last one week high and low of the scrip stood at Rs. 647.00 and Rs. 617...
Tata Motors gains on delivering hydrogen fuel cell powered buses to Indian Oil Corporation
?The common carrier access of product pipelines may result in sustained de-rating of BPCL, HPCL, Indian Oil even lower, Swarnendu Bhushan - Co-Head of Research, Prabhudas Lilladher said in a research.Although HPCL/BPCL/IOCL are trading at 0.9/1.2/0.8x FY24 PBV, a look at their long term valuation charts suggests that they could still correct from here.Marketing margins losses continue for OMCs. Average HPCL and BPCL returns have under-performed Nifty by 15/7/6 per cent in past 3/6/12month, wh...
De-rating of BPCL, HPCL, IOC on the cards as dominance in petroleum pipelines gets challenged
Indian Oil Corporation is currently trading at Rs. 92.89, up by 0.93 points or 1.01% from its previous closing of Rs. 91.96 on the BSE.The scrip opened at Rs. 92.36 and has touched a high and low of Rs. 93.10 and Rs. 91.80 respectively. So far 460540 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. 95.90 and Rs...
Indian Oil Corporation gains on getting nod to make additional investment in Hindustan Urvarak and Rasayan
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