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IOC tanks on the likelihood of slashing petrol price

25 May 2012 Evaluate

Indian Oil Corporation (IOC) is currently trading at Rs 265.95, down by 4.95 points or 1.83% from its previous closing of Rs 270.90 on the BSE.

The scrip opened at Rs 271.00 and has touched a high and low of Rs 271.00 and Rs 264.50 respectively. So far 35269 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 285.95 and Rs 264.50 respectively. The current market cap of the company is Rs 64486.42 crore.

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

Country's biggest refiner Indian Oil Corporation (IOC) may slash petrol prices if global crude prices cool down, but is not in the favor of immediately rolling back an increase announced this week. The company will assess petrol prices again in early June, to take the required decision.

Indian oil companies hiked the price of petrol by a whopping Rs 7.54 litre on Thursday, in a sign of fiscal discipline that might give a significant lift to the embattled rupee.

The state-owned oil companies together lost roughly $830 million by selling petrol at below market prices since the last price revision in December. Further, justifying the government’s move the Oil Minister, S Jaipal Reddy stated that the depreciation in rupee had necessitated the increase in fuel prices. This was because when the rupee falls by one against the dollar, oil companies suffer losses to the tune of Rs 8,000 crore annually.

The state owned petroleum company recently announced that it could hike fuel prices in Uttar Pradesh (UP), if its chief minister, Akhilesh Yadav, continues to place the burden of entry tax on the company, which weighs down approximately Rs 8600 on the cash strapped firm.

Indian Oil Corp. Share Price

145.85 1.70 (1.18%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Reliance Industries 1365.10
Indian Oil Corp. 145.85
BPCL 312.05
HPCL 370.95
MRPL 183.20
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