As Union Budget 2019 is presented, share price of Indian Oil Corporation (IOC) fell by 3.35 per cent to open at 157.5. The price closed at 151.30.
The BSE group ‘A’ stock of face value Rs 10 has touched a 52-week high of Rs 171.55 on 2 August 2018 and a 52-week low of Rs 105.65 on 5 October 2018.
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IOC shares have inched up just around 1% in the last one year compared with a 12% gain in the benchmark Nifty 50 index. The promoters holding in the company stood at 52.18%, while Institutions and Non-Institutions held 20.87% and 26.95%, respectively.
IOC on 3 July said it is undertaking various projects in Tamil Nadu with investments of Rs 8,520 crore, which include setting up of an exclusive jetty and laying of a new 1,250 km pipeline. The company has also commissioned a Rs 90-crore LPG bottling plant in Salem, the first to be built on a raze and rebuild basis.
IOC operates the largest and the widest network of petrol and diesel stations in the country, numbering over 18,278. It reaches Indane cooking gas to the doorsteps of over 53 million households in nearly 2,700 markets through a network of about 5,000 Indane distributors.
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