IOC climbs on inking MOU with UK's BP plc for acetic acid plant

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

24 Nov 2011 Evaluate

IOC is currently trading at Rs. 264.00, up by 1.40 points or 0.53% from its previous closing of Rs. 262.60 on the BSE.

The scrip opened at Rs. 263.00 and has touched a high and low of Rs. 265.00 and Rs. 254.45 respectively. So far 25937 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 405.70 on 02-Dec-2010 and a 52 week low of Rs. 254.45 on 24-Nov-2011.

Last one week high and low of the scrip stood at Rs. 275.05 and Rs. 254.45 respectively. The current market cap of the company is Rs. 63758.03 crore.

The promoters holding in the company stood at 78.92% while Institutions and Non-Institutions held 5.93% and 15.15% respectively.

State-owned Indian Oil Corporation (IOC) has signed a memorandum of understanding (MOU) with UK's BP plc for setting up a 1 million tonnes acetic acid plant in Gujarat. The proposed acetic acid plant for gasification facilities would utilise petroleum coke feedstock from IOC while the plant would also employ BP's latest Cativa XL technology.

The signed MOU is for exploring the potential for establishing a 50-50 joint venture to invest in the plant. A joint feasibility study is currently underway to confirm the exact configuration of the project, which would have a targeted start-up date in 2015.

Recently, IOC, the country’s biggest refiner was planning to expand capacity by 87% to 2.46 million barrels per day (bpd) by 2020-21. At present, IOC and its subsidiary - Chennai Petroleum together control half of India’s 20 refineries with a capacity of 1.314 million bpd.

Indian Oil Corp. Share Price

141.05 -3.65 (-2.52%)

11-May-2026 09:37 View Price Chart

Peers

Company Name	CMP
Reliance Industries	1416.70
Indian Oil Corp.	141.05
BPCL	295.40
HPCL	376.80
MRPL	160.25
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