IOC Owned Refinery To Supply BS-IV Compliant Diesel From Jan 2017

Indian Oi Corp-owned Gujarat refinery will supply Bharat Stage (BS)-IV compliant diesel from January 2017, according to reports. Report says that the company is spending Rs. 1,800 crore towards revamping its three diesel treating and hydro-treating units at Gujarat Refinery.

Indian Oil Corporation Ltd ended at Rs. 473, up by Rs. 32.4 or 7.35% from its previous closing of Rs. 440.6 on the BSE. The scrip opened at Rs. 440 and touched a high and low of Rs. 477.55 and Rs. 440 respectively. A total of 7513091(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 114842.04 crore.

The BSE group 'A' stock of face value Rs. 10 touched a 52 week high of Rs. 477.55 on 01-Jul-2016 and a 52 week low of Rs. 345.05 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 477.55 and Rs. 416.55 respectively. The promoters holding in the company stood at 58.57 % while Institutions and Non-Institutions held 16.65 % and 24.78 % respectively. The stock traded above its 50 DMA.

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