IOC gains as its board accords stage-I approval for setting up Styrene Project in India

Indian Oil Corporation Ltd. | Refineries | Oil & Gas | BSE: 530965 | NSE: IOC

01 Jul 2021 Evaluate

Indian Oil Corporation is currently trading at Rs. 108.15, up by 0.20 points or 0.19% from its previous closing of Rs. 107.95 on the BSE.

The scrip opened at Rs. 108.15 and has touched a high and low of Rs. 108.80 and Rs. 107.65 respectively. So far 260629 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 117.85 on 09-Jun-2021 and a 52 week low of Rs. 71.35 on 24-Sep-2020.

Last one week high and low of the scrip stood at Rs. 112.40 and Rs. 107.60 respectively. The current market cap of the company is Rs. 101955.34 crore.

The promoters holding in the company stood at 51.50%, while Institutions and Non-Institutions held 18.90% and 29.60% respectively.

Indian Oil Corporation’s (IOC) Board has accorded Stage–I approval for implementation of India’s first ever Styrene Monomer Project with a capacity of 387 thousand metric tonnes per annum (TMTPA) at an estimated cost of Rs 4,495 crore, at company’s Panipat Refinery & Petrochemical Complex.

Earlier the Panipat Refinery Expansion Project from the existing 15 MMTPA to 25 MMTPA was approved by the company’s Board in February 2021 with a capex of Rs 32946 crore. As part of the Expansion Project, a new high severity Fluidized Catalytic Cracking Unit (FCCU) of 2.5 MMTPA capacity, based on the company’s flagship INDMAX technology would be set up to maximize LPG production and basic petrochemical building blocks-Propylene and Ethylene. There is a Propylene potential of around 514 KTA of in the Project, which would be utilized for production of Polypropylene (PP) through a new PP unit. The Styrene Project envisages to utilize the Ethylene potential from the INDMAX Unit and Benzene that is already being produced at the Panipat Complex.

The Project would be commissioned by 2026-27. Availability of Styrene domestically is expected to accelerate the growth of downstream Industry leading to expansion of the industry as well as create employment opportunities.

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.

Indian Oil Corp. Share Price

144.70 -2.15 (-1.46%)

08-May-2026 16:59 View Price Chart

Peers

Company Name	CMP
Reliance Industries	1435.70
Indian Oil Corp.	144.70
BPCL	302.85
HPCL	387.00
MRPL	167.90
View more..

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Fiduciary-first advisory model.
As SEBI-registered IAs, we are legally and ethically bound to act in the best interests of our clients. We do not sell or distribute any financial products. This ensures our guidance is 100% unbiased and conflict-free.
Deep fundamental research + robust valuation discipline.
Built on more than 15 years of equity research, our framework combines quality assessment, intrinsic value estimation, and a sensible margin-of-safety approach.
Process—not predictions.
We don’t rely on guesswork or market timing. Instead, we focus on asset allocation, risk management, and long-term compounding.
Technology + Human Intelligence.
We believe a combination of both is essential for investing success. We constantly innovate and upgrade in-house tools, financial X-rays, and portfolio analytics so that our team of analysts and advisors are equipped with the best.
Partner with Clients.
We follow a DIWM (Do-It-With-Me) approach where we partner clients in setting goals, financial planning, educating on our investing process and share decision-enabling resources transparently with our clients who retain control on execution.

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

Investing in stocks, mutual funds, debt, and gold
Quality-at-Reasonable-Price way of investing in stocks
Constructing Direct Stock Portfolios with Core, Booster, and Amplifier stocks
A Mutual Fund Portfolio that delivers consistent out-performance and meaningful diversification (low overlap)
Periodic review and rebalancing
Clear Buy-Sell-Hold, and Position-sizing frameworks

Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
Logo:
Trade/Brand Name of IA:	MoneyWorks4Me Investment Advisers
Brand Logo:
SEBI Registration Number:	INA000013323 Validity – May 16, 2019 – Perpetual
Registration:	Non-Individual
BSE Enlistment No:	1187
Address:	B-101, Signet Corner Building, Balewadi Phata, Baner, Pune, Maharashtra 411045
Compliance officer Details:	Name: Shrikant Jagtap Email: shrikant.jagtap@moneyworks4me.com Telephone: +919860359463 Address: Same as IA
Grievance Officer Details:	Name: Mukta Vaze Email: mukta.vaze@moneyworks4me.com Telephone: +91 98609 19463 Address: Same as IA
Principal Officer Details:	Name: Atharva Bhide Email: atharva.bhide@moneyworks4me.com Telephone: +91 91758 99463 Address: Same as IA
Standard Warning:	Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Disclaimer:	Registration granted by SEBI, enlistment with exchange and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.