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IOC trades with traction on the bourses

16 May 2012 Evaluate

Indian Oil Corporation (IOC) is currently trading at Rs. 271.05, up by 5.10 points or 1.92% from its previous closing of Rs. 265.95 on the BSE.

The scrip opened at Rs. 266.00 and has touched a high and low of Rs. 272.80 and Rs. 265.00 respectively. So far 82701 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 360.00 on 27-Jun-2011 and a 52 week low of Rs. 247.35 on 03-Jan-2012.

Last one week high and low of the scrip stood at Rs. 272.80 and Rs. 260.00 respectively. The current market cap of the company is Rs. 65894.63 crore.

The promoters holding in the company stood at 78.92% while Institutions and Non-Institutions held 5.85% and 15.23% respectively.

Indian Oil Corporation (IOC), the state owned petroleum company, will be hiking fuel prices in Uttar Pradesh (UP), if its chief minister, Akhilesh Yadav, continues to place the burden of entry tax on the company, which weigh down approximately Rs 8600 on the cash strapped firm. However, the company is also planning to hike the prices of petroleum products sold to neighboring states from Mathura refinery.

The company may raise petrol and diesel prices by more than Rs 2 a litre, kerosene by Rs 0.92 a litre and cooking gas by Rs 19.49 per cylinder in the state. The increase is partly to pass on the entry tax to customers and partly to recover dues accumulated in the last five years.

In 2007, the UP government imposed 5% tax on transporting crude oil to IOC's Mathura refinery but the tax was not passed on to customers because of a stay order from the Allahabad high court. In January 2012, an interim order of the Supreme Court directed the company to pay the tax and deposit 50% of the past dues with interest, pending a final verdict. IOC ideally wants the state government to withdraw the tax, which would cost it Rs 1,650 crore annually.

Indian Oil Corp. Share Price

145.85 1.70 (1.18%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
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Indian Oil Corp. 145.85
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