IOC gains on receiving green nod for up-gradation of Bongaigaon Refinery

27 Apr 2017 Evaluate

Indian Oil Corporation (IOC) is currently trading at Rs. 441.15, up by 7.90 points or 1.82% from its previous closing of Rs. 433.25 on the BSE.

The scrip opened at Rs. 434.50 and has touched a high and low of Rs. 439.95 and Rs. 431.00 respectively. So far 1,01,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 441.45 on 27-Apr-2017 and a 52 week low of Rs. 196.33 on 24-May-2016.

Last one week high and low of the scrip stood at Rs. 441.45 and Rs. 416.40 respectively. The current market cap of the company is Rs. 2,14,072.00 crore.

The promoters holding in the company stood at 57.34%, while Institutions and Non-Institutions held 17.15% and 25.51% respectively.

IOC has received green nod for up-gradation of its Bongaigaon Refinery (BGR) for production of BS-VI grade fuels in Assam at a cost of Rs 4,185 crore. The company wants to upgrade its Bongaigaon Refinery as the government aims to implement BS-VI fuel in the entire country from April 2020 to curb pollution.

BGR, the eighth operating refinery of IOC, is situated at Dhaligaon in Chirang district, 200 km west of Guwahati. The environment ministry after taking into account the recommendations of its expert appraisal committee has granted the environment clearance (EC) to IOC for revamp of Bongaigaon refinery.

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.


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