Foreign institutional investors (FIIs) have raised their stake in Indian Oil Corporation (IOC) for the fourth straight quarter ended December 31, 2014. The overseas investors have hiked their stake in the company to 2.61% from 2.45% in the September 2014 quarter. They held 2.13% stake in the company at the end of December 2013 quarter. However, domestic institutional investors (DIIs) have reduced their stake in the company to 4.41% from 4.58% as on September 30, 2014.
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.